12040 Stagg St Los Angeles, CA 91605

This exceptional 0.2-acre development site in North Hollywood, CA, presents a compelling investment opportunity. Located at 12040 Stagg St, this single-parcel corner lot offers 8,936 square feet and is zoned LAR3, permitting the construction of a four-story building with up to 11 units. The property's prime location, just one block from Laurel Canyon Boulevard, provides easy access to major entertainment centers. This site offers multiple redevelopment options, including a by-right development of an 11-unit, four-story building (45-foot height limit) or leveraging the State Density Bonus Program (AB1287) for up to 24 units in a five-story structure. Alternatively, developers could pursue a 100% affordable housing project using either the State Density Bonus or LA City ED1 programs. Preliminary plans exist for an 11,974 square foot, four-story multifamily building comprising seven one-bedroom/one-bathroom units and four two-bedroom/one-bathroom units, plus an accessory dwelling unit (ADU). The asking price is $1,395,000, translating to $156.11 per square foot. This property is ideal for investors and developers seeking to capitalize on the strong market fundamentals and growing demographics of North Hollywood, with its increasing appeal to young professionals and creatives. The property's APN is 2317-001-002 and the zip code is 91605. The year built is projected for 2025.