Investment Overview

Marcus & Millichap is pleased to present a large 11,389 square foot (SF) lot located at 1801 North Normandie Avenue in Los Feliz, California. The property is situated in between Hollywood Boulevard to the south and Franklin Avenue to the north. Los Feliz is considered one of the most highly desirable areas surrounding Hollywood and offers attractions such as the Griffith Observatory, the Greek Theatre, and the Dresden Room. It is flanked on the north by Griffith Park, on the northeast by Atwater Village, on the southeast by Silver Lake, and to the northwest by Hollywood. Los Feliz mixes a meticulously curated image with an ultra-cool attitude. Idyllic homes rest in the shade of this neighborhood’s hillside foliage. Residents can spend their afternoon sipping free-trade coffee, enjoying Griffith Park, swirling craft cocktails, and screening films at the historic Greek Theatre. Nestled between the Hollywood Hills and Griffith Park, Los Feliz enjoys stunning views of the iconic Hollywood sign and the sprawling city below. Its close-knit community fosters a sense of belonging and neighborly camaraderie, with residents often gathering for neighborhood events and block parties. The area’s excellent schools, parks, and recreational facilities make it an ideal place to raise a family, attracting young professionals and families alike. With its proximity to major entertainment industry hubs and cultural institutions, Los Feliz offers both convenience and cultural enrichment. This offering is positioned on one (1) parcel totaling 11,389 square feet (SF) of land with a zoning ordinance of LAR3. This allows for fourteen units (14) units by-right. Additionally, this offering is granted ED1 eligibility, a recently passed program that allows an expedited process to 100% affordable developments. If used in conjunction with the State Density Bonus code 65915-65918, an ED1 project would have no maximum density, an allowance of three (3) additional stories and thirty-three (33) additional feet in height, and no parking requirement due to AB 2097. Five (5) additional concessions or incentives are granted under the State Density Bonus program. There is potential to stack these incentives with other programs such as TOC or the Los Angeles Density Bonus program, Buyer to verify. 1801 North Normandie currently has 5 units which offers a developer some income as they go through entitlements. The subject property is located in one of the best neighborhoods Los Angeles has to offer with quick access to the Hollywood Walk of Fame, Los Feliz Village, and Barnsdall Art Park. Tenants will enjoy having easy access to the -101 freeway and Hollywood Boulevard. Positioned in a prime Los Feliz location, this offering presents an excellent opportunity for an astute developer to capitalize on maximizing density and income with ED1 in a core market of Los Angeles.