643 N Rossmore Ave
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643 N Rossmore Ave
0.15 Acres of Residential Land Offered at $1,890,000 in Los Angeles, CA 90004
Executive Summary
The Neema Group is 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.
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.
Property Facts
| Price | $1,890,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 0.15 AC |
| Price | $1,890,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.15 AC |
1 Lot Available
Lot
| Price | $1,890,000 | Lot Size | 0.15 AC |
| Price Per AC | $12,746,328 |
| Price | $1,890,000 |
| Price Per AC | $12,746,328 |
| Lot Size | 0.15 AC |
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Walk Score ®
Walker's Paradise (93)
Bike Score ®
Very Bikeable (75)
zoning
| Zoning Code | R4-2 in a Tier 1 TOC |
| R4-2 in a Tier 1 TOC |
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643 N Rossmore Ave
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