Fully Entitled and Nearly RTI Ready 5 Story 20 Unit Luxury Apartment Development in Great Part of WLA
OR Can be pushed for 7 Stories with up to 50 Modular Units
7526 SF Lot - Zoned LAR 4 - TOC 3
Current Vacant 4 Unit and Ready for Demolition

DEVELOPMENT DETAILS
Project consists of 5 Stories of Luxury Apartment Living
Unit Mix of (16) 1 Bedrooms and (4) 2 Bedrooms
Total of 19,238 Structure and 54' In Height
Features Outdoor Balconies, On Grade Parking with Auto and Bicycle Parking Spaces with Easy Alley Access

LOCATION
Major Cross Streets Beverly and Fairfax
Walking Distance to the Grove and near Eateries, Shopping and Transportation
Near Perfect Walk Score of 96

Proforma Monthly income of $52,000
Estimated 5.5 CAP After Completion
ASKING PRICE WAS $5,000,000
NEW ASKING PRICE $4,500,000
Seller willing to carry with 30% Down at 8% for 18 months or until buyer gets full entitlements and RTI or whichever happens first