Description

We are pleased to present a 15,987 SF development site for multifamily or mixed-use located at 7100-7110 Melrose Avenue, Los Angeles, California. The subject property is located in a prime Melrose/Fairfax location, south on Melrose Avenue and west on N La Brea Avenue. Zoned [Q]C2-1XL-CPIO, this 15,987 SF signalized corner spans across two (2) contiguous parcels and delivers a strong feasibility for multifamily and mixed-use development. The area is highly amenitized with trendy and upscale tenants such as Voodoo Donuts, Orangetheory Fitness, Pink's Hot Dogs, Tatsu Ramen, Meteora, and many more. There is major density upside utilizing MIIP under the OC-3 designation or AHIP for unlimited density, up to a 4.8:1 FAR. The property sits in a TCAC Highest Resource area as a HUD designated DDA, opening the path for LIHTC funding and is located within 1/2 mile of a major transit stop, allowing elimination of minimum residential parking requirements under AB 2097. This creates a highly attractive, high-yield opportunity in a transit-rich area. Situated in a prime Melrose/Fairfax location in the coveted 90046 zip code, this offering presents an excellent opportunity for an astute developer to build in one of the trendiest markets of Los Angeles.