Description

Prime Net Lease is pleased to present 1222 N Beachwood Dr, anexceptional residential development opportunity with RTI (ready-to-issue)permits in place, located in the highly coveted Hollywood 90038 zipcode. The project is fully entitled, including a complete architectural set,schematics, and budgets (available upon request), and is approved for 8Market Rate and 3 Low Income units. This modern 4-story developmentwill feature 11 thoughtfully designed units with a well-balanced unit mix,and first-floor parking with 14 vehicle spaces and 24 bicycle spaces (20long-term and 4 short-term).With a total area of 11,107 square feet and 9,547 square feet of livablespace, this opportunity appeals to a diverse range of tenants seeking toexperience Hollywood's vibrant cultural scene. The 6,752-square-foot lotis zoned R3 and contains no existing structure, sparing investors thefinancial burden of tenant buy-outs or demolition. The property's locationis rated as Very Walkable, with a Walk Score of 88.Located within an Opportunity Zone and designated as a TOC Tier 2area, 1222 N Beachwood Dr offers strategic tax incentives (Buyer toverify) and increased density options that align with the city's vision forurban growth and housing. The flexible layout allows for variousconfigurations, supporting the development of upscale apartments,boutique condominiums, or custom-designed units that cater toHollywood's diverse population of professionals, creatives, and families.On-site parking adds convenience and accessibility for residents--aninvaluable feature in this high-demand neighborhood.The property's prime Hollywood location places it within close proximityto iconic landmarks like the Hollywood Walk of Fame, Sunset Boulevard,and Melrose Avenue, providing easy access to an array of dining,entertainment, and shopping options. The area's strong rental demandand ongoing revitalization make this project a promising investment,positioned for both immediate appeal and long-term appreciation.This development site offers investors a unique opportunity to contributeto Hollywood's transformation, capturing the essence of L.A.'s dynamiclifestyle while establishing a residential landmark in one of the city's mostdesirable neighborhoods.