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$ 2,495,000
Est. payment | /mo
7,528 Sqft Lot
$ 2,495,000
Est. payment | /mo
7,528 Sqft Lot
Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25252593
Lot Size 7,528 Sqft
Property Sub-Type Lots/Land
Property Description
*DEVELOPMENT OPPORTUNITY* We proudly present 350 N Hayworth Avea prime redevelopment opportunity located in the heart of Beverly Grove, 90048. The property currently features a vacant, fire-damaged 4-unit building totaling 5,070 square feet and is ready for demolition. Sitting on a 7,526 square foot LAR4-zoned lot, the site benefits from an SB-8 exemption, as it has remained unoccupied for over five years. This exemption opens the door to a range of development options that do not require the replacement of low-income housing. Almost RTI-approved plans include a 20-unit multifamily project consisting of 16 one-bedroom, one-bathroom units and 4 two-bedroom, two-bathroom units, with three designated as Extremely Low Income (ELI). There is flexibility to relocate the affordability covenant as long as the overall bedroom count remains equivalent. Alternative development scenarios include a small lot subdivision supporting four to six single-family homes or a 100% affordable housing project under Executive Directive 1 (ED1). This site represents a rare blank canvas in one of Los Angeles' most sought-after neighborhoods, offering strong potential for a range of high-value development strategies. Reach out for Offering Memorandum & Feasibility Study.
Location
State CA
County Los Angeles
Direction On the east side of North Hayworth Ave between Beverly Blvd and Oakwood Ave
Interior
Fireplace No
Exterior
Utilities Available Other/Remarks
View Y/N No
Others
Senior Community No
Tax ID 5527036004
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Listed by Robert Sillman, DRE#02145409 Lyon Stahl Investment Real Estate, Inc.
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