Description
713 N. Gramercy Pl, located in prime Hollywood, just a stone's throw away from Paramount Studios, Larchmont Village, Netflix, and much more, presents an incredible RTI development opportunity. The property features a 6,753 sqft lot with C4-1D (Tier 2) zoning and is SB8-Exempt! The property offers RTI plans for 4 luxuriously designed units, each featuring stunning rooftop decks and unusually large balconies off the 2nd and 3rd floors. The plans consist of 16 bedrooms and 16 bathrooms, each unit having 4 bedrooms and 4 bathrooms. Per the elevations, the first & third floors are 9 ft tall, and second floor is 10 ft tall allowing a developer to incorporate high-end designs and customized finishes throughout the units. This property offers 10 parking spaces, ensuring ample parking for residents, and there is the possibility of converting the two-car garage to an ADU after CofO, while still retaining 8 parking spaces after conversion (buyer to confirm). The luxurious design of the units makes them a highly desirable choice for modern-day living. With everything that Hollywood has to offer just moments away, this location is perfect for young professionals, couples, or families looking to enjoy the city's vibrant lifestyle. We are anticipating a monthly income of $24,000, making this a great cash flowing asset! *If the buyer does not wish to take advantage of the RTI plans, they can build 16 units by-right or 27 to 28 units by taking advantage of TOC (buyer to confirm with the city & their own architect).*
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3BEDS
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0.16ACRES
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2BATHS
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01/2 BATHS
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2,112SQFT
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$733$/SQFT
School Ratings & Info
Description
713 N. Gramercy Pl, located in prime Hollywood, just a stone's throw away from Paramount Studios, Larchmont Village, Netflix, and much more, presents an incredible RTI development opportunity. The property features a 6,753 sqft lot with C4-1D (Tier 2) zoning and is SB8-Exempt! The property offers RTI plans for 4 luxuriously designed units, each featuring stunning rooftop decks and unusually large balconies off the 2nd and 3rd floors. The plans consist of 16 bedrooms and 16 bathrooms, each unit having 4 bedrooms and 4 bathrooms. Per the elevations, the first & third floors are 9 ft tall, and second floor is 10 ft tall allowing a developer to incorporate high-end designs and customized finishes throughout the units. This property offers 10 parking spaces, ensuring ample parking for residents, and there is the possibility of converting the two-car garage to an ADU after CofO, while still retaining 8 parking spaces after conversion (buyer to confirm). The luxurious design of the units makes them a highly desirable choice for modern-day living. With everything that Hollywood has to offer just moments away, this location is perfect for young professionals, couples, or families looking to enjoy the city's vibrant lifestyle. We are anticipating a monthly income of $24,000, making this a great cash flowing asset! *If the buyer does not wish to take advantage of the RTI plans, they can build 16 units by-right or 27 to 28 units by taking advantage of TOC (buyer to confirm with the city & their own architect).*
Based on information from the Combined LA/Westside Multiple Listing Service as of 2023-03-21T22:42:50.39. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.