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745 N Croft Ave - Vacant Duplex R3 Zoned in A+ Location

0.14 Acres of Residential Land Offered at $2,695,000 in Los Angeles, CA 90069

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Investment Highlights

Ideally located in the heart of LA’s Westside just steps away from famed Melrose Place
Favorably zoned (Q)R3-1, the site offers an astute developer with a multitude of redevelopment options
As a highly desirable market, multifamily performance has remained robust. Average rents in this area are some of the highest in the state.

Existing improvements consist of a VACANT duplex
Current rent/SF of rentals in the immediate area exceed $6.00
Incredible location close to the Beverly Center, the Grove, the Sunset Strip, and the Hollywood Hills

Executive Summary

HUGE PRICE REDUCTION FOR ONE OF THE BEST LOCATED PROPERTIES IN TOWN! We are pleased to present a prestigious development opportunity located in a premier area of the Westside. 745 N Croft Avenue is a VACANT duplex which boasts close proximity to Melrose Place, known for its high-end retail and incredible dining establishments. Favorably zoned (Q)R3-1, the site allows for a range of uses utilizing California's recently adopted new housing laws intended to ease multifamily development including reduced parking requirements and allowance of accessory dwelling units (ADUs) on certain sites. Also zoned TOC 2, this exceptional and rare opportunity offers a buyer a range of attractive redevelopment options in the thriving West Hollywood adjacent market.