1750 Argyle Ave Los Angeles, CA 90028

This prime development site is located in the epicenter of Hollywood, across from the Capitol Records Building and steps from the Walk of Fame. The 34,320 SF lot is zoned C2-2D-SN-CPIO, with Tier 4 TOC and Tier 3 TOIA. The property falls under the Regional Center Commercial designation in the General Plan, making it suitable for Mixed Use, Mixed Income, or 100% Affordable Housing. Being within 1/4 mile of Metro heavy rail, the property has further potential with SB79. The land benefits from a Moderate TCAC level and sits within an Opportunity Zone. The Seller has basic conceptual plans for 148 units on a five-story design with one level of subterranean parking (occupying half the lot), consisting of 100 studios, 29 one-beds, and 19 two-beds. The property previously housed the Little Church of Hollywood, which burned down in 2007. The Office of Historical Resources is willing to approve at least a 50% ground coverage project to replace the once-historical property, with the remainder dedicated to a private park as an amenity for future tenants. The Seller has a Fault Line Clearance in hand. The location is near Hollywood & Vine, the Metro Subway Station, restaurants, nightlife, the Pantages Theatre, the Hollywood Bowl, Sunset Gower Studios, the Palladium, and Trader Joe's. The property has a Sign District designation.