Shovel-Ready Multifamily Development
For Sale
$4,490,000
5432 Virginia Avenue, Los Angeles, CA 90029
Vacant, cleared parcel with issued permits and by-right entitlement for a 65-unit apartment project in East Hollywood.
Property Size48,525 SF
Lot Size0.34 Acres
Price / SF$92.53
Days on Market140
Property Features for 5432 Virginia Avenue
General Information
Standard status
Active
Size
48,525 SF
Lot size
0.34 Acres
Property subtype
Lots/Land
Zoning
R4-1VL
Site & Location
Neighborhood
East Hollywood
Additional Details
Opportunity Zone
Yes
Multifamily Units
65
Building Details
Stories
6
Listing Agency:
Bessa Properties, Inc
(310) 272-9847
Listed By:
Ariel Mossazadeh · License #02157194
(310) 666-4923
Source:
Exitrealty
Added: Jun 9
Changed: Oct 25
Last Checked: Jun 30 at 8:00PM
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
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.
This is a development-ready, vacant and cleared lot suitable for a shovel-ready multifamily build. The property is approved for a 65-unit apartment development consisting of 31 studio units and 34 one-bedroom units within a six-story building totaling approximately 48,525 buildable square feet. Building and grading permits have been issued as of December 2025, creating an RTI (ready-to-issue) position for an apartment developer or ground-up multifamily buyer. The approved plan also includes fourteen indoor recreation rooms that can convert to ADUs, providing a path to 79–81 units.
The project is entitled under R4-1VL with Tier 3 TOC, with a 4.5:1 FAR and a 67-foot height standard, and it is described as having zero required parking under AB 2097. The offering is CEQA-exempt (SB 35) and by-right, with no discretionary hearings remaining. The site is located within a federal Opportunity Zone and totals approximately 14,992 square feet across two parcels (APN 5536-010-009 and 5536-010-010).
The parcel is presented as permit-ready, with a complete plan set and construction pricing available for qualified buyers who want to evaluate the existing approvals and move forward on the multifamily concept. The property is offered strictly as-is, where-is, and buyers are responsible for conducting independent due diligence, including verification of entitlements, RTI status, permits, plans, zoning, unit counts, and development potential.
The project is entitled under R4-1VL with Tier 3 TOC, with a 4.5:1 FAR and a 67-foot height standard, and it is described as having zero required parking under AB 2097. The offering is CEQA-exempt (SB 35) and by-right, with no discretionary hearings remaining. The site is located within a federal Opportunity Zone and totals approximately 14,992 square feet across two parcels (APN 5536-010-009 and 5536-010-010).
The parcel is presented as permit-ready, with a complete plan set and construction pricing available for qualified buyers who want to evaluate the existing approvals and move forward on the multifamily concept. The property is offered strictly as-is, where-is, and buyers are responsible for conducting independent due diligence, including verification of entitlements, RTI status, permits, plans, zoning, unit counts, and development potential.
Key Highlights
- RTI, shovel‑ready 65‑unit apartment development in East Hollywood with building and grading permits issued December 2025
- Approved unit mix: 31 studios and 34 one‑bedrooms in a six‑story building totaling approximately 48,525 buildable SF
- Combined lot size approximately 14,992 SF across two parcels: APN 5536‑010‑009 and 5536‑010‑010
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
65
Residential units
Location Intelligence
Trade Area within ½ mile
3,428
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 - Vacant, cleared parcel with issued permits and by-right entitlement for a 65-unit apartment project in East Hollywood.
Where is this residential land & home lot located?
The property is located at 5432 Virginia Avenue 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, shovel‑ready 65‑unit apartment development in East Hollywood with building and grading permits issued December 2025; Approved unit mix: 31 studios and 34 one‑bedrooms in a six‑story building totaling approximately 48,525 buildable SF; Combined lot size approximately 14,992 SF across two parcels: APN 5536‑010‑009 and 5536‑010‑010
