5535 Elmer Avenue

North Hollywood , CA 91601

MLS#: SR25180344

$3,500,000

Status: Active
Listing number: SR25180344
Listing provided by: Exclusive Estate Properties Inc
Listing agent phone: None
Last update: 3 days ago
New on site 4 days ago
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Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

None

Lot size

0.1666 acres

ED1 DEVELOPMENT OPPORTUNITY IN THE HEART OF NoHo Arts District – RTI Plans for 57 Units, with zero parking requirement! Prime location offers unparalleled convenience, situated just steps from the Metro station, renowned dining, vibrant bars, and premier entertainment options that define North Hollywood’s dynamic lifestyle. This property will be delivered with RTI plans, fully approved for the construction of a 57-unit development—offering a streamlined path for development in a high-demand area. Complete project documentation will be available to serious buyers with qualifying offers.

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

Exterior

  • Garage

    No

  • Pool

    No

  • View

    None

Area & Lot

  • Lot Size(acres)

    0.1666

  • Property Type

    Land

Price

  • Sales Price

    $3,500,000

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    NO

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Senior Community YN

    NO

  • Tax Lot

    9

  • Water Source

    Public

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Location

County

Los Angeles

Elementary School

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Listing Courtesy of Sarkis Majarian , Exclusive Estate Properties Inc

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ED1 DEVELOPMENT OPPORTUNITY IN THE HEART OF NoHo Arts District – RTI Plans for 57 Units, with zero parking requirement! Prime location offers unparalleled convenience, situated just steps from the Metro station, renowned dining, vibrant bars, and premier entertainment options that define North Hollywood’s dynamic lifestyle. This property will be delivered with RTI plans, fully approved for the construction of a 57-unit development—offering a streamlined path for development in a high-demand area. Complete project documentation will be available to serious buyers with qualifying offers.

5535 Elmer Avenue

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Located in the heart of the NoHo Arts District, 11448 Cumpston Street presents a rare opportunity to acquire a multifaceted asset on a +/-13,355 SF lot with immediate value-add potential and long-term development upside. Currently operating as a 15-unit apartment complex, the property features a unit mix of (12) 1-bed / 1-bath units, (2) studio / 1- bath units, and (1) 2-bed / 2-bath unit, totaling +/-8,991 SF of rentable space. Originally built in 1963, the building offers copper plumbing and a newer roof (buyer to verify).With one current vacancy, an investor who leases up the unit can achieve a projected monthly gross rental income of approximately $19,733.08. Additionally, the lot's zoning andlocation offer the potential for up to 60 new units through ground-up development--positioning this as a compelling play for either repositioning or redevelopment.The property qualifies for Tier 6 Section 8 rents and is situated within a Highest Resource Area, which maximizes incentives and density for affordable and mixed-income housing. Whether you're seeking a value-add multifamily investment with upside, exploring ADU additions, or planning a larger multifamily build, this property is strategically positioned in one of Los Angeles' most dynamic rental submarkets.
#P1-23480

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None Beds

None Baths

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