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1222 N Beachwood Drive

Los Angeles, CA 90038

– beds
– baths
– sqft

Prime Net Lease is pleased to present 1222 N Beachwood Dr, an exceptional residential development opportunity with RTI (ready-to-issue) permits in place, located in the highly coveted Hollywood 90038 zip code. The project is fully entitled, including a complete architectural set, schematics, and budgets (available upon request), and is approved for 8 Market Rate and 3 Low Income units. This modern 4-story development will feature 11 thoughtfully designed units with a well-balanced unit mix, and first-floor parking with 14 vehicle spaces and 24 bicycle spaces (20 long-term and 4 short-term). With a total area of 11,107 square feet and 9,547 square feet of livable space, this opportunity appeals to a diverse range of tenants seeking to experience Hollywood's vibrant cultural scene. The 6,752-square-foot lot is zoned R3 and contains no existing structure, sparing investors the financial burden of tenant buy-outs or demolition. The property's location is rated as Very Walkable, with a Walk Score of 88. Located within an Opportunity Zone and designated as a TOC Tier 2 area, 1222 N Beachwood Dr offers strategic tax incentives (Buyer to verify) and increased density options that align with the city's vision for urban growth and housing. The flexible layout allows for various configurations, supporting the development of upscale apartments, boutique condominiums, or custom-designed units that cater to Hollywood's diverse population of professionals, creatives, and families. On-site parking adds convenience and accessibility for residentsan invaluable feature in this high-demand neighborhood. The property's prime Hollywood location places it within close proximity to iconic landmarks like the Hollywood Walk of Fame, Sunset Boulevard, and Melrose Avenue, providing easy access to an array of dining, entertainment, and shopping options. The area's strong rental demand and ongoing revitalization make this project a promising investment, positioned for both immediate appeal and long-term appreciation. This development site offers investors a unique opportunity to contribute to Hollywood's transformation, capturing the essence of L.A.'s dynamic lifestyle while establishing a residential landmark in one of the city's most desirable neighborhoods.

Listing courtesy of DAMLS / Prime Desert Estates

Last checked: Checking… • Last updated Nov 12, 2024 •

MLS# 219119775 —

This property is listed in more than one place. See it here.

The Building

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Interior

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Cross Street:

Beachwood & Lexington
Latitude:

34.093266
Longitude:

-118.320853

The Property

Property Type:

Land
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Lot Size Area:

6752.0
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The Listing

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The Community

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Parking

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Explore the Area

My Commute

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Sale history

Date	Event	Source	Price	% Change
11/12/24 Nov 12, 2024	Listed / Active	DAMLS	$1,900,000	105.4% (12.9% / YR)
3/19/24 Mar 19, 2024	Price Changed	BRIDGE
2/1/24 Feb 1, 2024	Listed / Active	BRIDGE

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This land located in Central LA, Los Angeles, CA 90038 is currently for sale for $1,900,000. 1222 N Beachwood Drive is a – square foot land with – beds and – baths. 1222 N Beachwood Drive is in the Central LA neighborhood of Los Angeles and has a WalkScore® of 88, making it very walkable. This land is in the attendance area of Hollywood Elementary School, Vine Street Elementary School, and Hollywood Senior High School.

Listing Courtesy of: DAMLS and Prime Desert Estates.

The information being provided by DAMLS is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing.

Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of DAMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.