Overview

Description

SVN is pleased to present 1222 N Beachwood Dr., Los Angeles, CA 90038, located in the heart of the world renowned Hollywood submarket. This unique development opportunity consists of 11 units with a modern contemporary design, featuring a 3 story mid-rise wood-frame podium style structure and subterranean parking. Entitlements are essentially complete with full architectural set, schematics and budgets (documents available upon request) for 8 Market Rate and 3 Low Income units. RTI (ready to issue) permits can be delivered by close of escrow with an estimated 3 months left to obtain (permits paid by Buyer). The lot size is approximately 6,752 SF, zoned R3 and currently contains no structure on the land offering Investors the advantage of not having the financial burden to negotiate buy-outs with tenants nor require any additional demolition. Property location is rated as Very Walkable with a Walk Score of 89 and is an Opportunity Zone (Potential Tax Benefits).

**All buyers all buyers and investors must conduct their own due diligence of the opportunity zone regulations and consult their respective consultants.

1222 North Beachwood Drive has a Walk Score of 89 out of 100, Very Walkable and is expected that most errands can be accomplished on foot. Area is regarded as the Hollywood Studio District neighborhood in Los Angeles. It is in close proximity to many Hollywood attractions, Santa Monica and Sunset Boulevards, the 101 freeway and nearby parks including Hollywood Playground, Hollywood Recreation Center and Rudolph Valentino Memorial.

Highlights

• Proposed Development for 11 units: 8 (Market Rate): 2 (1+1), 1 (2+2), 5 (3+3) AND 3 (Low Income): 2 (1+1), 1 (2+2)
• Estimated Gross Area of Proposed Development: 11,083 SF (Proposed architectural set, schematics, etc. available upon request)
• Walk Score: 89 (Very Walkable) and Located In Opportunity Zone
• Proposed Parking: 14 and Proposed Bicycle Parking: 24

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