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Listed by Robert Sillman, DRE #02145409 • Lyon Stahl Investment Real Estate, Inc.
$ 2,495,000
Est. payment | /mo
7,528 Sqft Lot
$ 2,495,000
Est. payment | /mo
7,528 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB25252589
Year Built 1927
Lot Size 7,528 Sqft
Property Sub-Type Fourplex
Source California Regional MLS
Property Description
*DEVELOPMENT OPPORTUNITY* We proudly present 350 N Hayworth Ave-a prime redevelopment opportunity located in the heart of Beverly Grove, 90048. The property currently features a vacant, fire-damaged 4-unit building totaling 5,070 square feet and is ready for demolition. Sitting on a 7,526 square foot LAR4-zoned lot, the site benefits from an SB-8 exemption, as it has remained unoccupied for over five years. This exemption opens the door to a range of development options that do not require the replacement of low-income housing. Almost RTI-approved plans include a 20-unit multifamily project consisting of 16 one-bedroom, one-bathroom units and 4 two-bedroom, two-bathroom units, with three designated as Extremely Low Income (ELI). There is flexibility to relocate the affordability covenant as long as the overall bedroom count remains equivalent. Alternative development scenarios include a small lot subdivision supporting four to six single-family homes or a 100% affordable housing project under Executive Directive 1 (ED1). This site represents a rare blank canvas in one of Los Angeles' most sought-after neighborhoods, offering strong potential for a range of high-value development strategies. Reach out for Offering Memorandum & Feasibility Study.
Location
State CA
County Los Angeles
Area C19 - Beverly Center-Miracle Mile
Exterior
Garage Spaces 5.0
Pool None
View Hills, City Lights
Building
Water District - Public
Others
Tax ID 5527036004
Special Listing Condition Not Applicable
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