616 N Juanita Avenue, Los Angeles, CA 90004

About this property

This is a prime multifamily development opportunity at 612-616 N Juanita Ave in East Hollywood, Los Angeles. This double lot spans 15,003 square feet, zoned R3-1 in a Tier 3 TOC area, and is strategically locatedPriced at $153 per square foot, the property allows for the development of 19 units by right or up to 38 units utilizing the TOC density bonus. Preliminary plans include a 38-unit project featuring a mix of one- and two-bedroom units with subterranean parking. Developers can also explore eliminating612-616 N Juanita Avenear N Vermont Ave and Melrose Ave with easy access to the 101 Freeway. The site is centrally positioned close to Koreatown, Westlake, Silver Lake, and Downtown LA, with a high Walk Score of 90, ensuring proximity to public transportation and local amenities.parking requirements via AB 2097 or pursue unlimited density with a 100% affordable housing project under AB 2345. The property will be delivered vacant with structures already demolished, ready for immediate development. This opportunity provides a valuable chance to build in a sought-after LA neighborhood with various incentives to maximize project potential. Parcels: 5539-023-015 & 5539-023-014

Listing description from the November 2024 sale, as reported to CRMLS.

Sale history

$2,200,000

Sold November 2024 · listed $2,300,000, on market August 2024 · MLS #24434021 · Source: CRMLS

Listing Agent: Neema Ahadian · Listing Office: Marcus & Millichap · Contact: 310-909-5500 · Bought with: Neema Ahadian · Marcus & Millichap

$1,000,000

Sold July 2023 · listed $1,095,000, orig. $1,295,000, on market May 2023 · MLS #23271247 · Source: CRMLS

Listing Agent: Darren Hubert · Listing Office: Avenue 8, Inc. · Contact: 310-818-3251 · Bought with: Joseph Cloninger · Avenue 8, Inc.

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