Description

The Shamooelian Real Estate Group is pleased to present the opportunity to acquire this incredible development opportunity, located in the East Hollywood/Koreatown submarket. The site offers a zoning ordinance of LAR3, which allows for the construction of 9 units by right and 17 units using TOC Tier 3 Density Bonus. The property features a premier location, walking distance to numerous amenities, restaurants and employment centers and within close proximity to some of the biggest names in the entertainment industry such as Netflix, Sunset Gower Studios, Paramount Studios, Viacom, and NBC Universal. Central location between Hancock Park, Koreatown, East Hollywood, and Silver Lake makes this an ideal investment for developers looking for top of the market rents. There is a single family residence currently on the lot that is owner occupied and will be delivered vacant at the close of escrow.