Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

4

Building size

5,070 sqft

Lot size

7,528 sqft

Year built

1927

Stories

2

Garage spaces

4

Pool

None

View

City Lights,Hills

Status

Active

Days on market

229

MLS #

235086142

About this property

*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.

Location

350 N Hayworth Avenue

Los Angeles, Los Angeles, CA, 90048