1110-1116 N Gower St
Los Angeles, CA 90038
Land For Sale · 0.30 AC
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EXECUTIVE SUMMARY
1110-1116 N Gower Street is an attractive opportunity for developer looking to purchase in the Hollywood market while
being located in an Opportunity Zone.
- The newly passed Hollywood Community Plan Update goes into effect mid-February 2025 and has rezoned the
entire property to commercial [Q]C2-2D-CPIO, and increases the unit density from R3 (1 unit per 800 SF land) to
R4 (1 unit per 400 SF land)
- With the property being delivered vacant, having a large square land area, and being located right off the
signalized intersection of Santa Monica Boulevard and Gower Street, 1110-1116 N Gower Street provides
an excellent development opportunity in the booming Hollywood market.
- Ideal development site for an apartment building (see Property Description for more details on zoning)
- Demand for housing in Hollywood is very high, and apartment rents are on a steady upward trajectory
- The property is located in an Opportunity Zone providing tax incentives and deferred capital gains if
the proper amount of capital is invested into the property.
1110-1116 N Gower Street is comprised of approximately 13,000 square feet of commercial land zoned [Q]
C2-2D-CPIO. The newly passed Hollywood Community Plan Update (HCPU) goes into effect mid-February
2025 and has rezoned the entire property to commercial zoning, [Q]C2-2D-CPIO. This has increased the
allowable unit density from R3 (1 unit per 800 SF land) to R4 (1 unit per 400 SF land). Per the new HCPU
or State Affordable bonus laws, additional density bonuses and development incentives are allowed
increasing the subject property’s development potential. The property has two unoccupied structures
that are approximately 4,173 SF, and will be delivered vacant at the close of escrow. The project is
one parcel north of the northeast corner of Santa Monica Boulevard and Gower Street which is a
signalized intersection.
The Property is located in the Eastern portion of Hollywood, an area that is rapidly gentrifying and
home to a large number of tenants in the Entertainment Industry. This is an area that has seen
rapid growth and development due to the need for housing and the growth and expansion of
several office tenants, particularly Netflix, in the immediate area. The density, development
and growth has been moving from west to east, but the rapid expansion of Netflix also is
causing developments in the areas to the north of the Opportunity.
being located in an Opportunity Zone.
- The newly passed Hollywood Community Plan Update goes into effect mid-February 2025 and has rezoned the
entire property to commercial [Q]C2-2D-CPIO, and increases the unit density from R3 (1 unit per 800 SF land) to
R4 (1 unit per 400 SF land)
- With the property being delivered vacant, having a large square land area, and being located right off the
signalized intersection of Santa Monica Boulevard and Gower Street, 1110-1116 N Gower Street provides
an excellent development opportunity in the booming Hollywood market.
- Ideal development site for an apartment building (see Property Description for more details on zoning)
- Demand for housing in Hollywood is very high, and apartment rents are on a steady upward trajectory
- The property is located in an Opportunity Zone providing tax incentives and deferred capital gains if
the proper amount of capital is invested into the property.
1110-1116 N Gower Street is comprised of approximately 13,000 square feet of commercial land zoned [Q]
C2-2D-CPIO. The newly passed Hollywood Community Plan Update (HCPU) goes into effect mid-February
2025 and has rezoned the entire property to commercial zoning, [Q]C2-2D-CPIO. This has increased the
allowable unit density from R3 (1 unit per 800 SF land) to R4 (1 unit per 400 SF land). Per the new HCPU
or State Affordable bonus laws, additional density bonuses and development incentives are allowed
increasing the subject property’s development potential. The property has two unoccupied structures
that are approximately 4,173 SF, and will be delivered vacant at the close of escrow. The project is
one parcel north of the northeast corner of Santa Monica Boulevard and Gower Street which is a
signalized intersection.
The Property is located in the Eastern portion of Hollywood, an area that is rapidly gentrifying and
home to a large number of tenants in the Entertainment Industry. This is an area that has seen
rapid growth and development due to the need for housing and the growth and expansion of
several office tenants, particularly Netflix, in the immediate area. The density, development
and growth has been moving from west to east, but the rapid expansion of Netflix also is
causing developments in the areas to the north of the Opportunity.
PROPERTY FACTS
1 LOT AVAILABLE
Lot
Price | $3,490,000 |
Price Per AC | $11,633,333.33 |
Lot Size | 0.30 AC |
- Lot is approximately 100 feet x 130 feet with 100 feet of frontage Gower Street - Located one parcel from the Northeast corner of Santa Monica Boulevard and Gower Street which is a signalized intersection
PROPERTY TAXES
Parcel Number | 5534-016-014 | Improvements Assessment | $15,000 |
Land Assessment | $1,085,000 | Total Assessment | $1,100,000 |
ZONING
Zoning Code | LACM & R3 (The newly passed Hollywood Community Plan Update goes into effect mid-February 2025 and has rezoned the entire property to commercial [Q]C2-2D-CPIO.) |