Description

We are pleased to present a prime RTI Development Opportunity in North Hollywood. This corner lot property comes with approved plans to convert the existing duplex into a brand new 3-story triplex plus two detached ADUs, resulting in a five-unit project featuring an attractive unit mix of two 2-bedroom/2-bath units, one 3-bedroom/3-bath unit, and two 4-bedroom/3-bath units, totaling 8,174 sqft. Situated on a flat 7,065 SF RD2-zoned corner lot, the configuration allows for optimal design efficiency and site layout. The property is ideally located approximately one mile from the NOHO Arts District and the NOHO West Shopping Complex, offering convenient access to popular dining, shopping, entertainment, and transportation options. RTI plans and construction cost estimate are available upon request, allowing a buyer to move forward with development immediately. The completed project is projected to generate approximately $21,000 per month in gross rental income. The property currently consists of a tenant-occupied duplex, though it may be delivered vacant at the close of escrow. No tenant relocation or SB 8 clearance will be required for the approved conversion + addition, creating a streamlined path to construction. Contact listing agent for plans, reports, and additional details!