12144 Riverside Dr Los Angeles, CA 91607
- Land
Current Use by Public Records
- Land
Property Details for 12144 Riverside Dr
- Property type
- Land
Description
This exceptional 8,100 square foot land parcel presents a remarkable opportunity for the development of a 10-unit apartment building in the desirable Valley Village neighborhood of Los Angeles, California. Located at 12144 Riverside Drive, Los Angeles, CA 91607 (APN 2356-036-008), this property is zoned C2-1VL-RIO and is owned by an LLC. The site is ready for immediate development, with a building permit for a three-story apartment building ("RTI" - Ready To Issue) already in place, allowing for swift construction commencement. The project is designed for Type V construction. This prime location offers unparalleled convenience, situated just three blocks from the 101 Freeway on and off-ramps, providing easy access to both east and westbound traffic. The surrounding area boasts a vibrant retail scene, including well-known establishments such as Gelson's Grocery and Starbucks, along with various restaurants, ensuring a high demand for residential units. This ground-up development project represents a significant investment opportunity in a thriving Los Angeles community. The property's size and zoning regulations provide a solid foundation for a successful multi-family residential development. This is a rare chance to capitalize on the strong rental market in this sought-after area.
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.398
- Latitude
- 34.1574