Multi-Family
Aspire Lexington
4632 Lexington Ave, Los Angeles, CA 90029
Listing Price: $1,490,000
Investment Overview
The Opportunity A premier development site located in the heart of the East Hollywood transit corridor. This ±8,276 SF lot is 100% vacant and paved, offering a "clean" acquisition with no tenant relocation (Ellis Act) or demolition requirements. The site previously housed an 8-unit, two-story building (demolished in 2000), providing a clear precedent for multi-unit utility. Positioned just 0.1 miles from a major Metro hub, the site is primed for a modern high-density residential project.
Project Specifications
Asset Type: Multi-family Development Land
Price: $1,490,000
Lot Size: ±8,266 SF
Zoning: LARD1.5 (TOC Tier 3)
History: Previously an 8-unit structure; now a cleared, paved lot.
Location: 95 Walk Score; 0.1 miles to Vermont/Santa Monica Metro B-Line.
Development Highlights
Immediate Groundbreaking: Unlike most Hollywood lots, this site has zero demo costs and no risk of tenant displacement lawsuits.
TOC Tier 3 Incentives: Qualifies for density bonus. This allows a developer to potentially increase density from the base zoning to more units.
Parking Efficiency: Transit proximity permits a significant reduction in parking requirements.
Hospital Hub Access: Directly adjacent to major employment centers (Kaiser Permanente, Children’s Hospital LA), ensuring a consistent, high-income renter pool for medical staff.
Interim Income: Currently utilized for overflow parking, offering potential "carry" income to offset holding costs during the entitlement phase.
Aspire Lexington
Investment Highlights
- Situated in a TOC Tier 3 zone just steps (approx. 500 ft) from the Vermont / Santa MonicaClick to open side panel for more information Metro B-Line (Red Line), this property offers a good density
- Zero Demo & No Tenant Displacement (Clean Dirt), Electricity & Drainage on-site This is a rare "clean slate" opportunity in a market typically plagued by the Ellis Act and relocation hurdles.
- Proximity to the "Medical District" Employment Hub The property is positioned next to Hollywood Hotel & within a high-demand rental pocket serving the East Hollywood Hospital District.
Exclusively Listed By
Listing Price: $1,490,000
Investment Highlights
- Situated in a TOC Tier 3 zone just steps (approx. 500 ft) from the Vermont / Santa MonicaClick to open side panel for more information Metro B-Line (Red Line), this property offers a good density
- Zero Demo & No Tenant Displacement (Clean Dirt), Electricity & Drainage on-site This is a rare "clean slate" opportunity in a market typically plagued by the Ellis Act and relocation hurdles.
- Proximity to the "Medical District" Employment Hub The property is positioned next to Hollywood Hotel & within a high-demand rental pocket serving the East Hollywood Hospital District.
Investment Overview
The Opportunity A premier development site located in the heart of the East Hollywood transit corridor. This ±8,276 SF lot is 100% vacant and paved, offering a "clean" acquisition with no tenant relocation (Ellis Act) or demolition requirements. The site previously housed an 8-unit, two-story building (demolished in 2000), providing a clear precedent for multi-unit utility. Positioned just 0.1 miles from a major Metro hub, the site is primed for a modern high-density residential project. Project Specifications Asset Type: Multi-family Development Land Price: $1,490,000 Lot Size: ±8,266 SF Zoning: LARD1.5 (TOC Tier 3) History: Previously an 8-unit structure; now a cleared, paved lot. Location: 95 Walk Score; 0.1 miles to Vermont/Santa Monica Metro B-Line. Development Highlights Immediate Groundbreaking: Unlike most Hollywood lots, this site has zero demo costs and no risk of tenant displacement lawsuits. TOC Tier 3 Incentives: Qualifies for density bonus. This allows a developer to potentially increase density from the base zoning to more units. Parking Efficiency: Transit proximity permits a significant reduction in parking requirements. Hospital Hub Access: Directly adjacent to major employment centers (Kaiser Permanente, Children’s Hospital LA), ensuring a consistent, high-income renter pool for medical staff. Interim Income: Currently utilized for overflow parking, offering potential "carry" income to offset holding costs during the entitlement phase.
Exclusively Listed By
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