816 N Normandie Avenue
Los Angeles, CA 90029
0.20 acres | #25515145
Description
An exceptional affordable housing development opportunity awaits in the heart of Hollywood at 816 N Normandie Ave. This fully entitled and RTI (Ready to Issue) project offers a 40-unit residential development on a prime 8,512 SF lot at the coveted intersection of Normandie & Melrose. Designed under AB 2334 incentives, the six-story Type IA/IIIA building benefits from unlimited density for 100% affordable housing, making it an unparalleled investment opportunity. The project spans 23,520 SF and includes a diverse unit mix of 6 studios, 18 one-bedrooms, 15 two-bedrooms, and 1 three-bedroom unit. Of these, 1 unit is designated for very low income, 31 for low income, 7 for moderate income, and 1 as a market-rate unit. Each unit is designed for maximum affordability and optimized rental income, ranging from 386 to 547 SF, and the project is structured to eliminate parking requirements, further reducing construction costs and increasing long-term affordability. Located in one of Los Angeles' most vibrant and high-demand neighborhoods, this development sits within close proximity to top employment hubs, ensuring a steady stream of demand from professionals seeking affordable housing. The property is also well-connected to public transit, with nearby Metro stations and major bus lines, making commuting convenient. Additionally, outdoor enthusiasts will appreciate being just minutes from Griffith Park and the Hollywood Hills, offering a perfect balance of urban convenience and recreational opportunities. This turnkey development presents a rare and immediate opportunity for developers to bring much-needed affordable housing to one of LA's most sought-after areas. With all approvals in place and RTI status secured, this project is ready to break ground, offering both a socially impactful and financially strategic investment. Don't miss this prime Hollywood development opportunity. Contact us today for more details!.
Property Details
- CountyLos Angeles
- ViewCityLights
- Original List Price$2,549,000
- Property TypePurchase
- MLS #25515145
- MLS #25515145
- Cost2549000
- Acres0.1955
- Sewer InformationOther
- Property SubtypeLand
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. 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
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Tatiana Derovanessian (#CLW-C107158)
Listing Office: Keller Williams Beverly Hills (#CLW-X74054)
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