5444 Camellia Ave North Hollywood, CA 91601

Located in the vibrant NOHO Arts District of North Hollywood, this is a ready-to-issue development opportunity for a 46-unit, 100% affordable housing project. The property is situated on a 6,591 sq. ft. corner lot. The proposed 5-story apartment project is designed for efficiency. The unit mix includes 2 two-bedroom units, 27 one-bedroom units, and 16 studios, offering approximately 19,925 sq. ft. of rentable space. The location is less than half a mile from the NOHO Metro Red Line Station, providing access to public transportation, shopping, dining, and entertainment. The property has a Walk Score of 87 and a Bike Score of 74. The affordable housing community includes 2 units reserved for very low-income households (50% AMI), 34 units reserved for low-income households (80% AMI), 8 units reserved for moderate-income households (110% AMI), and 1 market-rate manager's unit. Rents for the very low- and moderate-income units follow HCD Schedule VI, while the low-income units align with TCAC Schedule IX. The location is suitable for attracting Section 8 voucher tenants. The design features zero parking spaces. The site is currently improved with a vacant duplex. The property may be delivered as a vacant lot if desired. The lot size is 0.1512 acres.