1516 La Baig, Los Angeles, CA 90028

Description

1516 La Baig Ave is a duplex (delivered vacant) located on a 5,499 SF lot in the center of the Hollywood Media District; just two parcels north of Sunset Blvd. This is a rare opportunity to acquire a development-ready site in a dynamic growth corridor, surrounded by major film and media employers, new mixed-use development, and transformative infrastructure investment. The property neighbors a new 109-unit apartment complex by CIM, across from Sunset Bronson Studios and Emerson College, and adjacent to the Netflix headquarters campus. A block away, the much-anticipated $1 billion "The Star" tower, designed by Norman Foster, is set to redefine the local skyline and inject over half a million square feet of new Class A creative space. ***There are ready-to-issue (RTI) plans to develop a 9-unit market-rate multifamily complex. Plans call for (1) 2-bdrm. unit, (3) 1-bdrm. units, and (5) singles. Please refer to the plans for more information.*** This site is eligible (buyer to verify) for Opportunity Zone tax benefits and is aligned with the recently enacted Hollywood Community Plan, which significantly increases allowable density incentivizes affordable housing, and encourages transit-oriented growth throughout the Sunset and Hollywood corridors. The existing improvements include (2) 1-bdrm. bungalow-style units. The property also features covered and surface parking, plus a standalone garage. Please note, the units are separately metered.

Features

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• 0.13 Acres
• 1 Story