$2,495,000
*DEVELOPMENT OPPORTUNITY* We proudly present 350 N Hayworth Ave—a prime redevelopment opportunity located in the heart of Beverly Grove, 90048. The property currently features a vacant, fire-damaged 4-unit building totaling 5,070 square feet and is ready for demolition. Sitting on a 7,526 square foot LAR4-zoned lot, the site benefits from an SB-8 exemption, as it has remained unoccupied for over five years. This exemption opens the door to a range of development options that do not require the replacement of low-income housing. Almost RTI-approved plans include a 20-unit multifamily project consisting of 16 one-bedroom, one-bathroom units and 4 two-bedroom, two-bathroom units, with three designated as Extremely Low Income (ELI). There is flexibility to relocate the affordability covenant as long as the overall bedroom count remains equivalent. Alternative development scenarios include a small lot subdivision supporting four to six single-family homes or a 100% affordable housing project under Executive Directive 1 (ED1). This site represents a rare blank canvas in one of Los Angeles' most sought-after neighborhoods, offering strong potential for a range of high-value development strategies. Reach out for Offering Memorandum & Feasibility Study.
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Listed by Robert Sillman with Lyon Stahl Investment Real Estate, Inc. (310) 425-9838
Property Type
Apartment
Status
Active
MLS Number
SB25252589
Year Built
1927
Lot Size
7,527 sq ft