7641 Hollywood Way Burbank, CA 91505
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 7641 Hollywood Way
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a fully permitted, 17-unit affordable housing project situated on a 6,642 square foot lot in Burbank, California. Located at 7641 N Hollywood Way, in Los Angeles County, zip code 91505, this project is ready for immediate construction. The plans are complete and approved under LAR3 zoning, eliminating lengthy permitting delays. The design features a cost-effective, three-story on-grade construction, minimizing construction complexity and expenses. The building will comprise fifteen one-bedroom, one-bathroom units and two studio units, all designed to meet affordable housing standards. The project's "shovel-ready" status ensures a swift transition from acquisition to construction, maximizing return on investment. The asking price for this prime development opportunity is $1,450,000. This is a rare chance to acquire a fully permitted, ready-to-build multi-family project in a desirable Burbank location, offering significant potential for long-term income generation and social impact. The property's location offers convenient access to local amenities and transportation. This is an ideal investment for developers seeking a streamlined path to delivering much-needed affordable housing in a thriving California market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Burbank
- County
- Los Angeles
- State
- California
- Longitude
- -118.34855121255
- Latitude
- 34.209640748163
