North Hollywood, CA 91601,5315 Riverton
North Hollywood, CA 91601,5315 Riverton
North Hollywood, CA 91601,5315 Riverton
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$2,800,000
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10,800 Sqft Lot
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5315 Riverton North Hollywood, CA 91601

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UPDATED:

11/08/2024 03:06 AM

Key Details

Property Type Vacant Land

Sub Type Lots/Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC24229901

HOA Y/N No

Lot Size 10,800 Sqft

Acres 0.2479

Property Description

Soon to be RTI development opportunity in North Hollywood approximely 10,803 SF Lot with Approved Plans for 22 plus 5 recreation units for ADU development This prime 10,805 square foot property (0.248 acres) is located in North Hollywood, offering approximately 80 feet of frontage along North Riverton Avenue and a depth of about 135 feet. Currently improved with two residential buildings and a garage/storage structure. Zoned R3-1VL, TIER 3, the site is within a designated State Enterprise Zone, providing potential incentives for development. The approved project plans call for the construction of a 22-unit residential building, plus 5 recreation units for ADU development, one in each floor, with a total building height of 56 feet. The project will feature five residential levels above one subterranean parking level, comprising approximately 31,622 square feet of space with a Floor Area Ratio (FAR) of 4.3:1. The mix of units will include 3 one-bedroom units, 17 two-bedroom units, and 2 three-bedroom units, along with 23 on-site parking spaces. As part of the affordable housing requirements, the project will include (1) two-bedroom unit designated for Extremely Low Income Households and (1) one-bedroom unit designated for Very Low Income Households, as per (HCD). Additionally, One (1), one (1) bedroom unit on the Existing Project was verified by the Department to be occupied by a Very Low Income Household who is entitled to the right of first refusal to a comparable unit of the same bedroom type at the completed Project. This property offers an exciting opportunity for a dev
Soon to be RTI development opportunity in North Hollywood approximely 10,803 SF Lot with Approved Plans for 22 plus 5 recreation units for ADU development This prime 10,805 square foot property (0.248 acres) is located in North Hollywood, offering approximately 80 feet of frontage along North Riverton Avenue and a depth of about 135 feet. Currently improved with two residential buildings and a garage/storage structure. Zoned R3-1VL, TIER 3, the site is within a designated State Enterprise Zone, providing potential incentives for development. The approved project plans call for the construction of a 22-unit residential building, plus 5 recreation units for ADU development, one in each floor, with a total building height of 56 feet. The project will feature five residential levels above one subterranean parking level, comprising approximately 31,622 square feet of space with a Floor Area Ratio (FAR) of 4.3:1. The mix of units will include 3 one-bedroom units, 17 two-bedroom units, and 2 three-bedroom units, along with 23 on-site parking spaces. As part of the affordable housing requirements, the project will include (1) two-bedroom unit designated for Extremely Low Income Households and (1) one-bedroom unit designated for Very Low Income Households, as per (HCD). Additionally, One (1), one (1) bedroom unit on the Existing Project was verified by the Department to be occupied by a Very Low Income Household who is entitled to the right of first refusal to a comparable unit of the same bedroom type at the completed Project. This property offers an exciting opportunity for a developer looking to capitalize on the growing North Hollywood market, with an approved plan for high-density residential development in a prime location.

Location

State CA

County Los Angeles

Area North Hollywood (91601)

Building

Lot Description Curbs

Lot Size Range 7500-10889 SF

Others

Monthly Total Fees $38

Acceptable Financing Exchange

Listing Terms Exchange


San Diego Regional MLS (SDMLS)
Listed by Ramin Favakehi • Ramin Favakehi, Broker

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Damon Cuccia

Broker Associate, REALTOR®, ABR, MRP | License ID: 01422266

+1(619) 370-3777

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5315 Riverton