12012 Hart Street new Save Request In-Person Tour Request Virtual Tour
North Hollywood (los Angeles),CA 91605
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL25601767
Lot Size 7,013 Sqft
Property Sub-Type Unimproved Land
Property Description
Fully RTI and ready to build, this 22-unit 100% affordable housing project in North Hollywood offers a rare turnkey development with no entitlement risk. Approved plans feature 19 one-bedroom and 3 studio units. Total project cost $6.05M with an estimated stabilized value $8.66M at a 5% cap rate, yielding a projected 7.2% return on cost. Prime infill location near NoHo Arts District, NoHo West, and major studios. High rental demand and potential property-tax exemption through nonprofit partnership make this a compelling opportunity for builders and investors seeking immediate project readiness and strong long-term value.
Location
State CA
County Los Angeles
Zoning LAR3
Exterior
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Building
New Construction No