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Multi-Family

Rossmore.643

643 N Rossmore Ave, Los Angeles, CA 90004

Listing Price: $2,500,000

Lot Size
0.15 acres
Price/Acre
$16,860,195
Land Type
Redevelopment

Investment Overview

• The Neema Group is pleased to present 643 N Rossmore Ave, a vacant lot totaling 6,459 SF zoned R4-2 in a Tier 1 TOC located in a prime location just south of Melrose Ave in the Hancock Park & Larchmont Village neighborhood of Los Angeles
• Ideal multifamily development opportunity with the ability to build 16 units by-right and 26 units if the TOC incentives are utilized
• Ownership has preliminary plans in place for a 25-unit, six story apartment project totaling 18,641 SF featuring a unit mix of 23 one-bedrooms (513 – 590 SF) and two three-bedrooms (840 – 850 SF) with subterranean and ground level parking totaling 18 spaces
• Ideal location just down the street from Wilshire Country Club, Los Angeles Tennis Club and the Marlborough School; walking distance to numerous retail amenities along N Larchmont Blvd and half a mile from Paramount Studios; high walk score of 93
• Located in a submarket with strong demographics; average household income of $91,486 within a 5-mile radius of the subject property and median home value of over $1 MM within two miles
• Central location with an easy commute throughout Los Angeles to Hollywood, West Hollywood, Beverly Hills, Los Feliz, and La Brea
• Unique opportunity to acquire a vacant lot with strong density potential and no relocation required

Investment Highlights

  • A vacant lot totaling 6,459 SF zoned R4-2 in a Tier 1 TOC located in a prime location just south of Melrose Ave in the Hancock Park & Larchmont Village neighborhood of Los Angeles
  • Ideal multifamily development opportunity with the ability to build 16 units by-right and 26 units if the TOC incentives are utilized
  • preliminary plans in place for a 25-unit, six story apartment project totaling 18,641 SF featuring a unit mix of 23 one-bedrooms (513 – 590 SF) and two three-bedrooms (840 – 850 SF)

Exclusively Listed By

Financing By

Multi-Family

Rossmore.643

Listing Price: $2,500,000

Lot Size
0.15 acres
Price/Acre
$16,860,195
Land Type
Redevelopment

Investment Highlights

  • A vacant lot totaling 6,459 SF zoned R4-2 in a Tier 1 TOC located in a prime location just south of Melrose Ave in the Hancock Park & Larchmont Village neighborhood of Los Angeles
  • Ideal multifamily development opportunity with the ability to build 16 units by-right and 26 units if the TOC incentives are utilized
  • preliminary plans in place for a 25-unit, six story apartment project totaling 18,641 SF featuring a unit mix of 23 one-bedrooms (513 – 590 SF) and two three-bedrooms (840 – 850 SF)

Investment Overview

• The Neema Group is pleased to present 643 N Rossmore Ave, a vacant lot totaling 6,459 SF zoned R4-2 in a Tier 1 TOC located in a prime location just south of Melrose Ave in the Hancock Park & Larchmont Village neighborhood of Los Angeles • Ideal multifamily development opportunity with the ability to build 16 units by-right and 26 units if the TOC incentives are utilized • Ownership has preliminary plans in place for a 25-unit, six story apartment project totaling 18,641 SF featuring a unit mix of 23 one-bedrooms (513 – 590 SF) and two three-bedrooms (840 – 850 SF) with subterranean and ground level parking totaling 18 spaces • Ideal location just down the street from Wilshire Country Club, Los Angeles Tennis Club and the Marlborough School; walking distance to numerous retail amenities along N Larchmont Blvd and half a mile from Paramount Studios; high walk score of 93 • Located in a submarket with strong demographics; average household income of $91,486 within a 5-mile radius of the subject property and median home value of over $1 MM within two miles • Central location with an easy commute throughout Los Angeles to Hollywood, West Hollywood, Beverly Hills, Los Feliz, and La Brea • Unique opportunity to acquire a vacant lot with strong density potential and no relocation required

Exclusively Listed By

Financing By

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