***$225,000 price reduction - $259 Land PPSF by Sunset & Gower - Development Plans in Docs Section*** 1516 La Baig Ave is a duplex (delivered vacant) located on a 5,499 SF lot in the center of the Hollywood Media District; just two parcels north of Sunset Blvd. This is a… Read More rare opportunity to acquire a development-ready site in a dynamic growth corridor, surrounded by major film and media employers, new mixed-use development, and transformative infrastructure investment. The property neighbors a new 109-unit apartment complex by CIM, across from Sunset Bronson Studios and Emerson College, and adjacent to the Netflix headquarters campus. A block away, the much-anticipated $1 billion The Star tower, designed by Norman Foster, is set to redefine the local skyline and inject over half a million square feet of new Class A creative space. The property comes with Ready-to-issue (RTI) plans to develop a 9-unit market-rate multifamily complex. Plans call for (1) 2-bdrm. unit, (3) 1-bdrm. units, and (5) singles. This site is eligible (buyer to verify) for Opportunity Zone tax benefits, and is aligned with the recently enacted Hollywood Community Plan, which significantly increases allowable density, incentivizes affordable housing, and encourages transit-oriented growth throughout the Sunset and Hollywood corridors. The existing improvements include (2) 1-bdrm. bungalow-style units that are separately metered. The property also features covered and surface parking, and a standalone garage. 1516 La Baig is a forward-looking investment in a creative corridor that continues to attract capital, talent, and transformative growth. Read Less
Courtesy of Compass 310-230-5478
Listing Snapshot
Days Online
43
Last Updated
Property Type
Single Family Residence
Beds
2
Full Baths
2
Square Ft.
1,620
Lot Size
0.13 Acres
Year Built
1919
MLS Number
25562881
30 Days Snapshot Of 90028
$715k
0%
(avg) sold price
0
-100%
homes sold
123
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
1,620 sq ft, Built in 1919, Levels: One, Attached, Bungalow
Disclosures
As Is
Fireplaces
None
Garage
1 total garage spaces, Garage - 1 Car, Covered Parking, Uncovered, Side By Side
Home Owner's Association
HOA Present
Lot
LotSizeArea: 5,499
Parking
CoveredParking: 1, OpenOtherSpacesTotal: 1
Pool
PoolYN: False, None
Property
LandLeasePurchaseYN: False, NumberOfUnits: 2, PropertySubType: Single Family Residence, Zoning: [Q] LAR4-1VL
Spa
Has spa, None
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