Hollywood Development Opportunity: 28
For Sale
Contact for pricing
Pending
6555-6561 Franklin Avenue Los Angeles, Los Angeles, CA 90028
Approved 28-unit development opportunity in a prime Hollywood location.
Property Size26,349 SF
Lot Size0.22 Acres
Days on Market535
Property Features for 6555-6561 Franklin Avenue Los Angeles
General Information
Standard status
Pending
Size
26,349 SF
Lot size
0.22 Acres
Property subtype
Land
Zoning
R4-1VL
Listing Agency:
Colliers - Los Angeles - Woodland Hills, California
(818) 325-4142
Listed By:
Reza Ghobadi · License #01780045
Source:
Crexi
Added: Feb 20, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:30AM
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 Colliers - Los Angeles - Woodland Hills, California
Investment Insights
Based on property information with market context.
This is a fully entitled multifamily development opportunity located at 6555-6561 Franklin Avenue in Hollywood. The project is approved for a five-story over podium building with 28 units. The building will have a total area of 26,349 square feet, situated on two combined parcels totaling 9,670 square feet. The rentable space is 23,286 square feet. The unit mix includes 16 two-bedroom, two-bath units, 4 one-bedroom, one-bath units, 8 studio lofts, and 2 studios. Three units are designated for low-income housing. There are 30 parking spaces on two subterranean levels. The property will feature an elegant lobby, resident recreation room, and leasing office on the first floor. The location at Franklin & Whitley provides access to Hollywood’s entertainment, dining, and employment hubs. The area benefits from rental demand and a walkable urban lifestyle.
Key Highlights
- Fully Entitled for 28 Units: Ready for immediate development!
- Prime Hollywood Location: Unmatched access to entertainment, dining, and employment.
- Diverse Unit Mix: Includes two‑bedroom, one‑bedroom, studios, and studio lofts.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,747
Businesses Nearby
Explore this area
Business Placement
Demographics for 90028, CA
32,330
Population
22,344
Households
1.4
Avg Household Size
36
Median Age
49%
College-Educated
90%
High-School Grad
1.5 sq mi
ZIP Area
21,553
Density / Sq Mi
$59,393
Median Household Income
$45,325
Median Earnings
$1,839
Median Rent
$970,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Approved 28-unit development opportunity in a prime Hollywood location.
Where is this residential land & home lot located?
The property is located at 6555-6561 Franklin Avenue Los Angeles Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Fully Entitled for 28 Units: **Ready for immediate development!**; Prime Hollywood Location: **Unmatched access to entertainment, dining, and employment.**; Diverse Unit Mix: Includes two‑bedroom, one‑bedroom, studios, and studio lofts.
