Description

Two APNs: 5401-001-004 & 5401-001-021. 598 N Hoover Street is an exceptional land offering positioned at the nexus of Silver Lake and East Hollywood. Totaling 4,057 square feet across two contiguous parcels, the property is zoned LAC1.5 with TOC tier 3 designation, providing a flexible canvas for multifamily or mixed-use development. A previously existing 1,320-square-foot structure was recently affected by a fire, but the property's highest and best use lies in redevelopment, making it ideally suited for a tear-down opportunity. Under current C1.5 zoning, the site permits a base density of 10 units by-right, and a mixed-use project could build up to ~12,171 SF of floor area over multiple stories, with retail on the ground floor and housing above (Buyer to verify). Multifamily developers could also take advantage of a 3% density bonus for 14 units, with 11% very low income. This creates an attractive opportunity for developers to pursue either an all-residential project, a purely commercial build, or a mixed-use concept. The property benefits from a prime location along a vibrant retail corridor, offering future residents or tenants immediate access to the diverse amenities of Silver Lake and East Hollywood. Just blocks from Melrose Avenue and Sunset Boulevard, the site is surrounded by an eclectic mix of trendy cafes, restaurants, boutiques, and entertainment venues. With its zoning, scale, and location, this offering presents developers and investors with a rare chance to deliver a thoughtfully designed project in one of Los Angeles' most desirable submarkets.