Shovel-Ready 57-Unit Affordable Development
For Sale
$2,299,999
1020 Ardmore Ave, Los Angeles, CA 90029
Fully entitled, RTI for 57 units on a lot with alley; ready to pull permits and begin construction.
Property Size25,292 SF
Lot Size0.21 Acres
Price / SF$90.94
Days on Market122
Property Features for 1020 Ardmore Ave
General Information
Standard status
Active
Size
25,292 SF
Lot size
0.21 Acres
Property subtype
LAND
Site & Location
Neighborhood
East Hollywood
Additional Details
Multifamily Units
57
Building Details
Stories
4
Listing Agency:
Keller Williams Hollywood Hills
Listed By:
Daniel Lalezari · License #01949474
(310) 650-4220
Source:
Milsteinestates
Added: Jun 26
Changed: Oct 25
Last Checked: Jul 20 at 3:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Hollywood Hills
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Vacant land is fully entitled and RTI (Ready to Issue) for a 57-unit 100% affordable ED1 project, with plans already prepared for immediate permitting and construction. The proposed design is a Type V, four-story fully stacked structure with all wood frame floors, including a manager’s office that can be converted into an additional unit. The unit mix calls for 40 one-bedroom units and 17 studios, with each floor including a laundry room, plus an outdoor bicycle area and storage.
The project is located in Los Angeles’ TOC Tier 3 area in Hollywood, near Sunset Blvd, and described as walkable (walk score 87). Plans indicate no parking required. The stackable concept includes 25,292 square feet of building area, with unit sizes approximately ranging from 300 to 456 square feet. Based on the most recent schedule 6 & 9 rents from the covenant, projected total monthly gross income is estimated at $123,044 and annual gross income at $1,476,528, and Section 8 vouchers may support higher rents (buyer to verify).
The project is located in Los Angeles’ TOC Tier 3 area in Hollywood, near Sunset Blvd, and described as walkable (walk score 87). Plans indicate no parking required. The stackable concept includes 25,292 square feet of building area, with unit sizes approximately ranging from 300 to 456 square feet. Based on the most recent schedule 6 & 9 rents from the covenant, projected total monthly gross income is estimated at $123,044 and annual gross income at $1,476,528, and Section 8 vouchers may support higher rents (buyer to verify).
Key Highlights
- Fully entitled RTI (ready to issue) project for 57 units, vacant land and ready to pull permits and start construction
- Almost 9,000 SF lot plus an alley; Type V, four‑story fully stacked wood‑frame floors design
- Unit mix: 40 one‑bedroom and 17 studios; manager’s office included and can be converted into a unit
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
57
Residential units
Location Intelligence
Trade Area within ½ mile
4,829
Businesses Nearby
Explore this area
Business Placement
Demographics for 90029, CA
34,695
Population
14,465
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
24,782
Density / Sq Mi
$60,793
Median Household Income
$35,801
Median Earnings
$1,644
Median Rent
$1,066,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential land & home lot - Fully entitled, RTI for 57 units on a lot with alley; ready to pull permits and begin construction.
Where is this residential land & home lot located?
The property is located at 1020 Ardmore Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,299,999.
What are key features of this property?
This property features: Fully entitled RTI (ready to issue) project for 57 units, vacant land and ready to pull permits and start construction; Almost 9,000 SF lot plus an alley; Type V, four‑story fully stacked wood‑frame floors design; Unit mix: 40 one‑bedroom and 17 studios; manager’s office included and can be converted into a unit
