11319 Mccormick St Los Angeles, CA 91601

This exceptional 7,495 square foot land parcel in North Hollywood, Los Angeles (APN 2350-017-014), presents a unique opportunity to develop a 36-unit multifamily project. Zoned C-2, this shovel-ready site allows for immediate construction of a five-story building (on-grade, no parking). The current triplex structure is vacant, eliminating tenant relocation concerns. Detailed plans are in place for a 35-unit building plus a manager's unit, comprising a mix of nine studios, twenty-four one-bedroom, and two two-bedroom units. Four units are designated for Extremely Low Income (ELI) rents. The property boasts convenient alley access and is situated within a Qualified Opportunity Zone, offering potential tax advantages. The asking price for this exceptional development opportunity is $2,250,000. This is a truly remarkable chance to capitalize on the thriving North Hollywood market and build a high-yield multifamily property. The property is located at 11319 McCormick St, Los Angeles, CA 91601.