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ZIP CODE 91606

$1,495,000
ACTIVE Status
The property is located on the corner of Camellia Ave and Victory Blvd. There is currently a vacant single family residence, which was constructed in 1940, totaling 945 SF on the property. The property enjoys 114.9 feet of frontage on Victory Blvd, and frontage on Camellia Ave. The property is zoned [Q]R3-1 and is located in an Opportunity Zone. The property is entitled for a 30-unit, 13,700 SF, eldercare housing development. Plans call for 6 senior independent units, 18 assisted living care with guest room, and 6 Alzheimer care with guest room units. Plans also call for 3,310 SF of open spaces and 9 parking stalls. The building would be 4 stories with Type V-A construction. Demand among developers and operators for new senior living projects is higher in 2022 than in the prior year. Driving that increase in demand are favorable demographics, an expectation that construction prices will level off in 2023 and a shift in mindset from the Covid-19 pandemic to planning for the future. (Source: Senior Housing News) The subject property is located minutes away from NoHo Arts District, as well as minutes away from the Bob Hope / Burbank Airport. North Hollywood is on the rise, with 2 brand new mixed-used developments, NoHo West, and District NoHo. District NoHo will consist of approximately 1,500 multifamily units, 100,000 SF of retail space, and 500,000 SF of office space. The property has easy access to the 170 Freeway to the west, the 5 Freeway to the east, and the 101 and 134 Freeways to the south.

6401 Camellia Ave, North Hollywood

Courtesy of , Roderick 'Rick' Raymundo - CA DRE#

$1,429,000
ACTIVE Status
PRICE REDUCED! Calling all contractors, developers, and Opportunity Zone investors! We are pleased to present for sale a 9 unit RTI development opportunity in PRIME North Hollywood! Approved Plans call for a 4-story 9 unit apartment building with ON-GRADE PARKING and rooftop deck! Unit mix consists of five 2 Bedroom + four 1 Bedroom units, with 1 of the 9 units set aside for very low income, and a total of 10 parking spaces. Total Building Area is 7,510 sqft and the lot is fully FLAT. The site is situated in the heart of North Hollywood less than 1 mile from the new NOHO WEST complex (Trader Joes, Creamistry, Regal Cinemas, Nordstrom Rack & LA Fitness coming soon!) and less than 2 miles from the NOHO ARTS district!! (Magnolia & Lankershim) Take advantage of a "ready to go" project and avoid the lengthy and costly entitlement process!!! The site also lies within a qualified Opportunity Zone = potential for future tax savings! Seller has already paid new building permit fee of ~$75,000, saving a builder time and money. Current improvements include a duplex occupied by a single tenant paying $2,780/month. Do not miss this opportunity to build in the heart of North Hollywood close to all shopping, restaurants, transportation, and entertainment that NoHo has to offer its residents. Property to be sold with tenants in place. Contact listing agent for more details! Do not disturb current tenant.

11675 Oxnard St, North Hollywood

Courtesy of , Daniel Shamooelian - CA DRE#

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