5720 Waring AVE, Los Angeles, CA 90038
5720 Waring AVE, Los Angeles, CA 90038
5720 Waring AVE, Los Angeles, CA 90038
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Noelle Longmeyer

Noelle Longmeyer

+1(714) 514-5643
$2,850,000
Est. payment /mo
0.3 Acres Lot
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Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 26989607

HOA Y/N No

Lot Size 0.299 Acres

Property Description

This 13,007-square-foot vacant lot is ideally located adjacent to Larchmont Village and offers a compelling multifamily development opportunity. The property is fully entitled and Ready-to-Issue (RTI) for an approximately 43,620-square-foot, five-story building containing 35 dwelling units. Approved plans also allow the recreation room to be converted into a one-bedroom, one-bathroom ADU, potentially increasing the project to 36 total units. A significant advantage of the project is its efficient parking design, which provides 17 on-grade parking spaces and eliminates the need for costly subterranean construction. The well-designed unit mix includes twelve two-bedroom/two-bathroom units, seven one-bedroom/one-bathroom units, and sixteen studio units. Seven units representing 20% of the project are designated for low-income tenants, consisting of three studios, two one-bedroom/one-bathroom units, and two two-bedroom/two-bathroom units. This affordable-housing allocation eliminates applicable linkage fees and allows the remaining market-rate units to be exempt from rent control, offering a meaningful long-term benefit to the future owner. In addition to the approved RTI plans, the site may offer alternative development potential through an Executive Directive 1 (ED1) affordable-housing project or a small-lot subdivision. Full plans are available upon request.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR3

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 5534033006

Special Listing Condition Standard

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Listed by Jonathan Bloom Miller & Desatnik Realty Co. #02004524

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Noelle Longmeyer

Noelle Longmeyer

+1(714) 514-5643

Agent License ID: 01313351

Agent License ID: 01313351

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