Active
643 N Rossmore Ave
Los Angeles CA, 90004
$1,890,000
$292.61 per sqft
Active
0.15 Acres
Land
We are excited to offer a unique investment opportunity with the presentation of 643 N Rossmore Ave, a prime vacant lot in the prestigious Hancock Park & Larchmont Village area of Los Angeles. Spanning 6,459 square feet and zoned R4-2 within a Tier 1 Transit Oriented Community (TOC), this property stands out as an ideal site for multifamily development. Developers have the potential to construct 16 units by-right, with the option to expand to 26 units by leveraging TOC incentives. Preliminary plans are already in place for a 25-unit, six-story apartment complex totaling 18,641 square feet. The proposed project includes 23 one-bedroom units ranging from 513 to 590 square feet and two three-bedroom units between 840 to 850 square feet. Additionally, the plans provides for subterranean and ground level parking with a total of 18 spaces. This property is not only situated in a prime location just south of Melrose Ave, but it also boasts a high walk score of 93. It's a short distance from the Wilshire Country Club, Los Angeles Tennis Club, and the Marlborough School, and within walking distance to a variety of retail amenities along N Larchmont Blvd. Paramount Studios is also just half a mile away. The neighborhood's strong demographics are highlighted by an average household income of $91,486 within a 5-mile radius and a median home value of over $1 million within two miles, making it an attractive area for residential development. The central location offers easy commutes throughout Los Angeles, including Hollywood, West Hollywood, Beverly Hills, Los Feliz, and La Brea. This vacant lot presents a unique opportunity for developers seeking a project with significant density potential, in a sought-after location, without the need for relocation.
24-466135
MLSⓇ ID
November 21, 2024
Listed
November 22, 2024
Updated
Map
643 N Rossmore Ave
Los Angeles CA, 90004
Exterior/Building Features
Lot Size
0.15 Acres
Other Property Details
Area Name
Hancock Park-Wilshire
Days on Market
17
Garage
No
View
No
View Description
None
County
Los Angeles
Pool
No
Zoning
LAR4
Listed by Neema Ahadian with Marcus & Millichap
Listing Contact: 310-909-5444
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Giuseppe Talarico | CA DRE# 02155865 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 11/22/2024