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ZIP CODE 91605

$799,000
2 Beds 2 Baths ACTIVE Status
We are pleased to exclusively present for sale an R3 DOUBLE LOT development opportunity located in the high rental demand neighborhood of North Hollywood! Address of both parcels is 7633-7639 Simpson Ave (APN's: 2317-007-037 & 2317-007-038). Asking price for each lot is $799,000 for a combined asking price of $1,598,000 for both lots. Located within a qualified OPPORTUNITY ZONE, this combined lot size of ~11,917 affords a developer the opportunity to build 14 units by right or up to 21 units using the state density bonus program. Further potential to add additional units through ADU permitting! (buyer to verify). Also an excellent opportunity for double-duplex/townhouse style units. 7633 Simpson is a Single Family Residence that is owner occupied (no tenant relocation required!), with the next door lot on 7639 Simpson being vacant land (SB 8 RUD's in hand for both lots, both lots will be EXEMPT from SB 8 Replacement Requirement!!!). The site is located on a quiet Cul-De-Sac street within close proximity to the 170 Freeway, Costco, and ~2 miles from the NOHO West Shopping Mall Complex & much more!! Low $P/SF, only ~$130/SF on the existing lot size. Lots of new development nearby. Do not miss this opportunity to build on a RARE R3 double lot, within an OPPORTUNITY ZONE, in a high rental demand area of Los Angeles! Contact listing agent for more details! Cross listed with MLS #22-199569.

7633 Simpson Ave, North Hollywood

Courtesy of , Daniel Shamooelian - CA DRE#

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