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    1020 N Ardmore Ave Los Angeles, CA 90029

    View on Map
    Sponsored
    Picture of Residential land & home lots at N Ardmore Ave 1020, Los Angeles, CA
    For Sale
    $2,799,999

    LAND - Los Angeles, CA

    Property size:
    25,292 SF
    Lot size:
    0.20 Acres
    Days on Market:
    8
    Last Refresh:
    Mar 15 at 2:06 pm

    Property Features for 1020 N Ardmore Ave

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    LAR3
    APN
    5537-018-021
    Size
    25,292 SF
    Lot size
    0.20 Acres

    We can help!

    Listing Contact
    Daniel Lalezari

    Keller Williams Realty Hollywood Hills (310) 623-1300

    Listing agent Daniel Lalezari (310) 623-1300 License #01949474

    Listing date Mar 7, 2026

    MLS# 26657645

    Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Ready-to-Build Affordable Housing Project

    This is a fully entitled, RTI (Ready to Issue) permits ready to build, 100% Affordable ED1 project featuring 57 units, including a manager's office that can be converted into a unit. The design includes 40 one-bedroom units and 17 studios within a Type V, four-story, fully stacked structure on an almost 9,000 square foot lot plus an alley. The design features all wood frame floors. Located in Hollywood, the property is near Sunset BLVD, with a walk score of 87, close to restaurants, coffee shops and shopping centers. The area is close to Larchmont, Silverlake, Hollywood Walk of Fame, Paramount Studios, and Melrose Hills. The property is located in a TOC Tier 3 area, close to the Vermont/Sunset Metro Subway Station, making this very walkable and bike friendly. The stackable design features 25,292 square feet of building area with units ranging from approximately 300 to 456 square feet. Each floor has a laundry room, outdoor bicycle area, and storage. The property is currently vacant land ready to start building right away. The plans have no parking required. There is no SB8 Replacement. Each unit is designed for maximum affordability and optimized rental income. This development presents an immediate opportunity for developers to bring much-needed affordable housing to one of LA's most sought-after areas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.301628
    Latitude
    34.089256

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    FAQs

    What type of property is this?
    Residential land & home lot - Fully entitled 57-unit affordable housing project in prime Hollywood location.
    Where is this residential land & home lot located?
    The property is located at 1020 N Ardmore Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $2,799,999.
    What are key features of this property?
    This property features: - Fully Entitled, RTI (Ready to Issue) Permits: Shovel-ready project allows immediate start to construction, saving significant time.; - 100% Affordable ED1 Project: Addresses high demand for affordable housing in a sought-after Los Angeles location.; - TOC Tier 3 Location Near Vermont/Sunset Metro: Offers excellent walkability, bike-friendliness, and access to public transportation.
    (310) 623-1300
    Request Owner's contact information
    1020 N Ardmore Ave Los Angeles, CA 90029
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    Los Angeles, CA 90029
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1020 N Ardmore Ave Los Angeles, CA 90029
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    We can help!
    Listing Contact
    Daniel Lalezari
    Real Estate License ID: 01949474
    (310) 623-1300 (310) 650-4220
    Learn more
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