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Listed by Lauren Cearley • Myunits.com Inc.
$ 1,295,000
Est. payment | /mo
8,102 SqFt
$ 1,295,000
Est. payment | /mo
8,102 SqFt
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Pending
Purchase Type For Sale
Square Footage 8,102 sqft
Price per Sqft $159
MLS Listing ID CRBB25167518
HOA Y/N No
Lot Size 8,102 Sqft
Property Sub-Type Unimproved Land
Source Datashare California Regional
Property Description
5327 Riverton Ave is an exceptional opportunity to build a new 6-unit development - or up to 10 units by right - in the heart of the North Hollywood Arts District, one of LA's fastest-growing and most in-demand neighborhoods. This SB-8 exempt, non–rent-controlled, LAR3-zoned lot is a rare find in today's landscape, offering developers a streamlined path forward with no tenant relocation or replacement unit requirements-saving both time and capital. Delivered RTI with plans for six thoughtfully designed townhomes, the current design includes two oversized 3-bedroom, 3.5-bath units and four spacious 2-bedroom, 2.5-bath units. Each features open layouts, en-suite bathrooms, in-unit laundry, and dedicated parking - ideal for today's renter. Prefer to bring your own plans? With LAR3 zoning and SB-8 exemption, developers can build up to 10 units by right - a unique value-add opportunity. Located steps from The Laemmle Theatre, The Federal Bar, Chandler Bike Path, and the newly developed NoHo West hub - home to Trader Joe's, boutique fitness studios, and curated retail - this site offers unbeatable walkability in a red-hot submarket. With very few SB-8 exempt properties left, this is a rare plug-and-play opportunity in a high-growth corridor. Call now before this one gets snatched up.
Location
State CA
County Los Angeles
Interior
Fireplace No
Exterior
View City Lights, Other
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Vander Meulen Real Estate Group
Broker, REALTOR® | Lic# 00842213 | Lic# 02150745