5831 VIRGINIA Avenue
Los Angeles, CA 90038
  |  5,050 SF
Offered at $1,599,000
Type: Other
Status: In Escrow
Lot Size: 7499 sq.ft.
Year Built: 1959
MLS# 19426780
Neighborhood: C20 - Hollywood

Property Description

The subject property is a six-unit apartment complex built in 1959 and located in the Hollywood submarket of Los Angeles. This fully-occupied property boasts a mix of four 2 bedroom, 1 bathroom units and two 1 bedroom, 1 bathroom units. The improvements are built on a 7,499 square foot lot with a total rentable square footage of 5,050. There are 8 on-site parking spaces as well as on-site laundry. Each well maintained unit is individually metered for gas and electricity. Development potential is also an option. The property is zoned R3-1, allowing for 9 units, by right. The lot is recognized as Tier 2 under the new TOC Guidelines under Section 6 of Measure JJJ. This allows for a 60% density bonus and less restrictive parking requirements (1 space/ dwelling). With the density bonus the number of buildable units potentially increases to 15.

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