• For Sale
  • USD 1,985,000 
  • Build Size: 1,036 ft2
  • Property Type: Single Family Home
  • Bedroom: 3
  • Bathroom: 1
Entitled Dev. RTI Permit Opportunity! Rarely found LA R3, TOC (TRANSIT ORIENTED COMMUNITY) TIER 3 LOCATED IN OPPORTUNITY ZONE with a view to HOLLYWOOD SIGN. TOC Planning Approved 16 Unit Apartment Building (4 ADUs can be added) that can become a total of 20 units. One of the best opportunities to build 20 units with all Architectural Plans, 2 of the units to be used for low-income using TOC Tier 3 incentives of the city of Los Angeles. The property will be delivered RTI. The project is entitled with the letter of determination from the planning department of the city of Los Angeles. Plans are submitted to the department of building and safety and are in the plan check process going through the very last steps of the process for RTI permit. A sale at this stage is arguably superior to RTI because the buyer can make changes if desired. The property is situated in the prime Silver lake/Echo Park location minutes away from dining and nightlife of Sunset Blvd with HOLLYWOOD SIGN VIEW. Desirable location in Los Angeles with easy access to Hollywood, Downtown LA, Sunset Junction, Echo Park, and the 101 Freeway. Investors, you do not need to wait a very long time to get your permit to build, because the letter of determination is already obtained and plans are submitted to the department of building and safety to obtain RTI status. If you don't want to waste your valuable time, take advantage of this ready-to-shovelôôôôôôôôôôôôôôôôôôôôôôôô opportunity.
Bahram  Irani
Bahram Irani
View more properties from

516 N Virgil Avenue, Los Angeles CA 90004, Los Angeles, California, United States is a 1,036ft2 Los Angeles luxury Single Family Home listed for sale USD 1,985,000. This high end Los Angeles Single Family Home is comprised of 3 bedrooms and 1 baths. Find more luxury properties in Los Angeles or search for luxury properties for sale in Los Angeles.