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Lot/land
  • $2,549,000

    816 N Normandie Ave, Los Angeles, CA 90029

    --beds
    --baths
    8,515.98Square Feet
    Unimproved Land
    Built in ----
    8,515.98 Square Feet Lot
    $2,445,400 Zestimate®
    $--/sqft
    $-- HOA

    What's special

    An exceptional affordable housing development opportunity awaits in the heart of Hollywood at 816 N Normandie Ave. This fully entitled and RTI (Ready to Issue) project offers a 40-unit residential development on a prime 8,512 SF lot at the coveted intersection of Normandie & Melrose. Designed under AB 2334 incentives, the six-story Type IA/IIIA building benefits from unlimited density for 100% affordable housing, making it an unparalleled investment opportunity. The project spans 23,520 SF and includes a diverse unit mix of 6 studios, 18 one-bedrooms, 15 two-bedrooms, and 1 three-bedroom unit. Of these, 1 unit is designated for very low income, 31 for low income, 7 for moderate income, and 1 as a market-rate unit. Each unit is designed for maximum affordability and optimized rental income, ranging from 386 to 547 SF, and the project is structured to eliminate parking requirements, further reducing construction costs and increasing long-term affordability. Located in one of Los Angeles' most vibrant and high-demand neighborhoods, this development sits within close proximity to top employment hubs, ensuring a steady stream of demand from professionals seeking affordable housing. The property is also well-connected to public transit, with nearby Metro stations and major bus lines, making commuting convenient. Additionally, outdoor enthusiasts will appreciate being just minutes from Griffith Park and the Hollywood Hills, offering a perfect balance of urban convenience and recreational opportunities. This turnkey development presents a rare and immediate opportunity for developers to bring much-needed affordable housing to one of LA's most sought-after areas. With all approvals in place and RTI status secured, this project is ready to break ground, offering both a socially impactful and financially strategic investment. Don't miss this prime Hollywood development opportunity. Contact us today for more details!.
    19 days
    on Zillow
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    58
    |
    0
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    Zillow last checked: 7 hours ago

    Listing updated: July 13, 2025 at 05:06pm

    Listed by:

    Tatiana Derovanessian DRE # 01912761 818-421-2890,

    Keller Williams Beverly Hills 310-432-6400

    Source: CLAW,MLS#: 25515145MLS Logo
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    Facts & features

    Interior

    Video & virtual tour

    Property

    Features
    • Has view: Yes
    • View description: City
    Lot
    • Size: 8,515.98 Square Feet
    • Dimensions: 50 x 170
    Details
    • Parcel number: 5538005015
    • Zoning: LAR3-1XL
    • Special conditions: Standard

    Utilities & green energy

    • Sewer: In Street
    • Water: Public

    Community & HOA

    Location
    • Region: Los Angeles

    Financial & listing details

    • Tax assessed value: $1,320,900
    • Annual tax amount: $16,257
    • Date on market: 7/14/2025
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