Shovel-Ready Multifamily Development
For Sale
$4,490,000
5432 Virginia Ave, Los Angeles, CA 90029
Vacant, cleared lot with issued grading and building permits for a 65-unit apartment project.
Property SizeContact for details
Days on Market63
Property Features for 5432 Virginia Ave
General Information
Standard status
Active
Property subtype
LAND
Listing Agency:
Bessa Properties, Inc
(310) 666-4923
Listed By:
Ariel Mossazadeh · License #02157194
Source:
Rochellemaize
Added: Jun 8
Changed: Aug 8
Last Checked: Aug 8 at 8:05AM
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 Bessa Properties, Inc
Investment Insights
Based on property information with market context.
A shovel-ready, RTI (ready-to-issue) multifamily development site located on a combined approximately 14,992 SF parcel comprised of two lots (APN 5536-010-009 and 5536-010-010). The project is approved for 65 units in a six-story building totaling approximately 48,525 buildable SF, with unit mix approved as 31 studios and 34 one-bedrooms. Fourteen indoor recreation rooms have approval flexibility to convert to ADUs for an expanded path to 79–81 units. The site is vacant and cleared, with all prior structures demolished, leaving a flat development-ready condition. Entitlement is under R4-1VL with Tier 3 TOC, including a 4.5:1 FAR, 67-foot height, and zero required parking under AB 2097. CEQA-exempt (SB 35) and described as by-right with no discretionary hearings remaining.
The property is located in East Hollywood and within a federal Opportunity Zone. It is stated to be walking distance to the Vermont/Santa Monica Metro B Line and minutes from Kaiser Permanente and Children’s Hospital Los Angeles, with access to nearby local destinations including Silver Lake and Virgil Village. The listing also notes the site is blocks from the Echelon Studios mega-development.
For a multifamily developer or ground-up buyer, this is presented as a permit-ready, plan-set supported opportunity to move forward with construction on a cleared lot. The information is provided as-is and where-is, with buyer responsibility for independent due diligence to verify RTI status, entitlements, permits, unit counts, plan details, square footages, and all development assumptions.
The property is located in East Hollywood and within a federal Opportunity Zone. It is stated to be walking distance to the Vermont/Santa Monica Metro B Line and minutes from Kaiser Permanente and Children’s Hospital Los Angeles, with access to nearby local destinations including Silver Lake and Virgil Village. The listing also notes the site is blocks from the Echelon Studios mega-development.
For a multifamily developer or ground-up buyer, this is presented as a permit-ready, plan-set supported opportunity to move forward with construction on a cleared lot. The information is provided as-is and where-is, with buyer responsibility for independent due diligence to verify RTI status, entitlements, permits, unit counts, plan details, square footages, and all development assumptions.
Key Highlights
- RTI (Ready‑to‑Issue) 65‑unit apartment development in East Hollywood with issued building and grading permits (Dec 2025).
- Entitled for 65 units: 31 studios and 34 one‑bedrooms, across a six‑story building totaling approx. 48,525 buildable SF.
- Six‑story project under R4‑1VL with Tier 3 TOC: 4.5:1 FAR, 67‑ft height, and zero required parking under AB 2097.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,810
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Vacant, cleared lot with issued grading and building permits for a 65-unit apartment project.
Where is this residential land & home lot located?
The property is located at 5432 Virginia Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $4,490,000.
What are key features of this property?
This property features: RTI (Ready‑to‑Issue) 65‑unit apartment development in East Hollywood with issued building and grading permits (Dec 2025).; Entitled for 65 units: 31 studios and 34 one‑bedrooms, across a six‑story building totaling approx. 48,525 buildable SF.; Six‑story project under R4‑1VL with Tier 3 TOC: 4.5:1 FAR, 67‑ft height, and zero required parking under AB 2097.
