Shovel-Ready Apartment Development
For Sale
$4,490,000
5432 Virginia Avenue, Los Angeles, CA 90029
Vacant, cleared lot with issued building and grading permits for a 65-unit, six-story apartment project.
Property Size14,992 SF
Lot Size0.34 Acres
Price / SF$299.49
Days on Market147
Property Features for 5432 Virginia Avenue
General Information
Standard status
Active
Size
14,992 SF
Lot size
0.34 Acres
Property subtype
Land Lot
Zoning
LAR4-1VL (Tier 3 TOC)
Site & Location
Neighborhood
East Hollywood
Additional Details
Opportunity Zone
Yes
Multifamily Units
65
Amenities
indoor recreation rooms
https://www.themls.com/properties/vt/CA/Los-Angeles/5432---Virginia-Ave/Residential-Land/26844929
No
Building Details
Stories
6
Listing Agency:
Bessa Properties, Inc
Listed By:
Ariel Mossazadeh · License #02157194
(310) 666-4923
Source:
Compass
Added: Jun 2
Changed: Oct 25
Last Checked: Jul 20 at 10:19AM
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
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Investment Insights
Based on property information with market context.
Vacant and cleared development site set up for a ground-up, shovel-ready multifamily project. The plans call for a six-story building approved for 65 units, including 31 studio units and 34 one-bedroom units, totaling approximately 48,525 buildable square feet, on a combined approximately 14,992-square-foot lot across two parcels. The development includes indoor recreation rooms that can convert to ADUs for a potential path to 79–81 units, subject to permitting and due diligence. Entitlements are described as R4-1VL with Tier 3 TOC, with a 67-foot height and zero required parking under AB 2097, and CEQA-exempt (SB 35) status with no discretionary hearings remaining.
The property is located at 5432 Virginia Avenue in Los Angeles, within a federal Opportunity Zone. The site is described as walking distance to the Vermont/Santa Monica Metro B Line, and minutes from Kaiser Permanente and Children’s Hospital LA, with additional proximity to Silver Lake and Virgil Village, and blocks from the Echelon Studios mega-development.
A complete plan set and construction pricing are available, and the seller represents the project as RTI (Ready-to-Issue) with building and grading permits issued in December 2025. The property is offered strictly as-is, where-is, and buyers are responsible for verifying entitlements, RTI status, permits, plans, zoning, unit counts, square footages, lot size, soils, and development potential.
The property is located at 5432 Virginia Avenue in Los Angeles, within a federal Opportunity Zone. The site is described as walking distance to the Vermont/Santa Monica Metro B Line, and minutes from Kaiser Permanente and Children’s Hospital LA, with additional proximity to Silver Lake and Virgil Village, and blocks from the Echelon Studios mega-development.
A complete plan set and construction pricing are available, and the seller represents the project as RTI (Ready-to-Issue) with building and grading permits issued in December 2025. The property is offered strictly as-is, where-is, and buyers are responsible for verifying entitlements, RTI status, permits, plans, zoning, unit counts, square footages, lot size, soils, and development potential.
Key Highlights
- RTI 65‑unit apartment development approved for 31 studios and 34 one‑bedrooms in a six‑story building
- Issued building and grading permits received December 2025; CEQA‑exempt (SB 35) with no discretionary hearings remaining
- Entitled under R4‑1VL with Tier 3 TOC: 4.5:1 FAR and 67‑ft height; zero required parking under AB 2097
Property Analytics
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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
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Vacant, cleared lot with issued building and grading permits for a 65-unit, six-story apartment project.
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 65‑unit apartment development approved for 31 studios and 34 one‑bedrooms in a six‑story building; Issued building and grading permits received December 2025; CEQA‑exempt (SB 35) with no discretionary hearings remaining; Entitled under R4‑1VL with Tier 3 TOC: 4.5:1 FAR and 67‑ft height; zero required parking under AB 2097
