Skip To Content

12801 Barbara Ann St

North Hollywood, CA 91605
  • $2,400,000
  • STATUS: Active
  • ON SITE: 60 Days
  • MLS #: 24-391191
UPDATED: 85 min ago
$2,400,000
  • 0
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

12801 Barbara Ann St, located just south of Sherman Wayin the Valley Glen neighborhood of North Hollywood. The 9,433 SF lot willbe delivered fully entitled for 66 income-restricted housing units with noparking required. The project's central Valley location and proximity to major employmenthubs and the Hollywood Burbank Airport are prime for a high velocityworkforce housing lease up strategy, allowing a mission driven developerthe opportunity to support the missing middle segment given the project'sdiscount to surrounding market rents. Plans call for an efficient five story project, utilizing an all-wood Type IIIAconstruction. The lot currently consists of a single-family residence that willbe delivered vacant at the close of escrow, allowing a developer to breakground immediately. The finished project totals 28,774 SF and has a desirable unit mix of 65 singles(280-360 SF) and one three-bedroom (681 SF), allowing a developer to collectrents above $5 per SF. The lot is offered at a low $37,121 per buildable unit, allowing a privately fundeddeveloper the opportunity to develop a high yielding project and capture astrong return on cost with zero tax credits or government subsidies. The project also offers the unique opportunity to purchase an ED-1 projectin a qualified opportunity zone, taking advantage of potential tax benefitsincluding potential elimination of capital gains tax, greatly enhancing projectreturns. The project is located just west of the 170 Freeway accessible via ShermanWay and provides convenient access to most major neighborhoodsthroughout the Valley. The central location allows for an easy commute tonearby neighborhoods such as Sherman Oaks, Studio City, Panorama City,and Sun Valley, among others; the site is also close proximity to three metrolocal line bus stops on Sherman Way. Located in a densely populated, infill submarket of Los Angeles, the projectbenefits from retail amenities along Sherman Way & Coldwater Canyon Ave.The project is in close proximity to schools within a half mile, including JamesMadison Middle School and Coldwater Canyon Ave Elementary School.

Monthly Payment Calculator



Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-07-13T20:42:59.927. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/150485278
Print Image

12801 Barbara Ann St North Hollywood, CA 91605

  • Price: $2,400,000
  • Status: Active
  • On Site: 60 Days
  • Updated: 85 min ago
  • MLS #: 24-391191
0
Beds
0
Baths
0
½ Baths
0.22
Acres
Neighborhood:
North Hollywood
County:
Los Angeles
Area:
North Hollywood
Property Description
12801 Barbara Ann St, located just south of Sherman Wayin the Valley Glen neighborhood of North Hollywood. The 9,433 SF lot willbe delivered fully entitled for 66 income-restricted housing units with noparking required. The project's central Valley location and proximity to major employmenthubs and the Hollywood Burbank Airport are prime for a high velocityworkforce housing lease up strategy, allowing a mission driven developerthe opportunity to support the missing middle segment given the project'sdiscount to surrounding market rents. Plans call for an efficient five story project, utilizing an all-wood Type IIIAconstruction. The lot currently consists of a single-family residence that willbe delivered vacant at the close of escrow, allowing a developer to breakground immediately. The finished project totals 28,774 SF and has a desirable unit mix of 65 singles(280-360 SF) and one three-bedroom (681 SF), allowing a developer to collectrents above $5 per SF. The lot is offered at a low $37,121 per buildable unit, allowing a privately fundeddeveloper the opportunity to develop a high yielding project and capture astrong return on cost with zero tax credits or government subsidies. The project also offers the unique opportunity to purchase an ED-1 projectin a qualified opportunity zone, taking advantage of potential tax benefitsincluding potential elimination of capital gains tax, greatly enhancing projectreturns. The project is located just west of the 170 Freeway accessible via ShermanWay and provides convenient access to most major neighborhoodsthroughout the Valley. The central location allows for an easy commute tonearby neighborhoods such as Sherman Oaks, Studio City, Panorama City,and Sun Valley, among others; the site is also close proximity to three metrolocal line bus stops on Sherman Way. Located in a densely populated, infill submarket of Los Angeles, the projectbenefits from retail amenities along Sherman Way & Coldwater Canyon Ave.The project is in close proximity to schools within a half mile, including JamesMadison Middle School and Coldwater Canyon Ave Elementary School.
Exterior Features

Lot Size Area 9447 View Description None View YN No

Property Features

Cable YN No Disclosures None Sale Type Standard Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Zoning LARD1.5

Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap: 310-909-5500.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-07-13T20:42:59.927. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_24-391191-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_24-391191-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_24-391191-2.jpg
Logo
Zwemmer Realty Group | Keller Williams Realty
75486 Augusta Drive
Indian Wells CA, 92210