Description

6905 Ben Ave - 7,900 Square Foot Lot. RTI Plans for Five-Unit MFR. Each Unit 4 bed/3 bath. Approximately 1,920 Square Feet. Parking structure on first level, not subterranean. LARD 1.5 North Hollywood is one of the hotspots for apartment development in Los Angeles County. During the last 10 years, over 5,200 units have been delivered. Communities with 35-plus units have been built - or are in the process of being built – near the Metro Red Line Stop. During the past 12 months, over 1,110 units have been delivered, with a 642-unit apartment complex almost completed. The complex also includes retail and office space components. Currently, there are 1,100 submarket units under construction, or about 2.1% of the existing apartment rental inventory. A 127-unit project located at 5401 Lankersheim Blvd. in North Hollywood is set to be delivered in the coming months. Of note, one of the oldest and most prolific real estate developers in the country, is building a 1,500-unit apartment complex with over 100,000 square feet of retail space, almost 600,000 square feet of office space, and over 3,000 parking spaces.