1161 N. Vermont, Los Angeles, Los Angeles County, CA 90029

For Sale

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Property Summary for 1161 N. Vermont Español?

Property Type
Apartment
Date Added
10 June 2019
Neighborhood
East Hollywood
Zip
90029
School District
Los Angeles Unified School District

Description for 1161 N. Vermont

Greatly Located Property for sale, that gives a possibility to develop an Apartment Building approx. 36 units or use as a Retail for Restaurant/Banquet Hall or any commercial use after remodeling. \r\rTOC Tier 4. \r\rGreat location on 1161 N. Vermont in Hollywood, CA 90029. \r\rIt is a vacant building/property for now. \r\rBuyer to conduct his/her own investigation with the City of LA. Brokerage and/or Agents aren't responsible in any way for any info below. This is for educational and general informative purposes only. \r\rLot is zoned C2-1D: The C2 is commercial, the 1D indicates that there is a development restriction on the property. This will require some deeper investigation to determine what it is. There are 10 ordinances which affect this property. All of these will need to be investigated to determine this. It will take a good deal of time and may require a visit(s) to City Hall.\r \rAdjacent Zone is RD1.5-1XL: This adjacency will limit how the property mass and volume are developed. The city has a required sloping mass diagram for TOC projects which are adjacent to residential property, to protect the RD site from a massive adjacent structure. This adjacent zone may also be part of the reason for the Development limitation on the site.\r \rLot is approximately 75 x 105 ft or 7875 sf ft. 19 units under standard entitlement.\r \rLot is Transit Oriented Community TOC Tier 4. This is the highest Tier available. \ra. 80% additional units\rb. Floor Area increase to max 4.25 of site\rc. Max height increased by 22 feet (this may not apply as the 1D normally would indicate no height Limit The D portion may be a limit on height.\rd. No parking is required. 0. None.\r \rLot is in the Vermont Western Station Plan Specific Plan area (SNAP) Subarea C. There are specific development requirements for this property under this specific plan, that will need to be reviewed. \rThere the specifics had to do with amounts of commercial area, site development constraints etc. Design review was only thru the planning department.\r \rThe final TOC counts:\r \r36 residential units. Average size is about 500 sf. depending on the amount of area set aside for commercial.\r \rIf parking is provided, the site is small, so the amount of below grade parking will be limited. Likely around 18-20 spaces or so. The site it too small to add a second level. Only 1 level of parking below grade would be possible. Some additional on grade parking could be arranged for the commercial space.\r
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Listing provided by Point2 Agent on 06/11/2019

Demographics in 90029top

Population

Total population 38,843
Male population 19,721
Female population 19,122
Median age 35.90

Households

Total households 14,188
Average people per household 2.63

Housing

Total housing units 15,205
Owner occupied 1,375
Renter occupied 12,813
Median year built 1956

Income

Median household income 37,379
Average household income 52,221

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Disclaimer


Demographic data shown in this section was gathered from the 2017 American Community Survey and is deemed reliable but is not guaranteed.
No representation, guarantee or warranty is made as to the accuracy or completeness of information modified or aggregated for specific neighborhoods and/or zip codes.
Ludwig Parsamian, Ph.D., Broker, Team Leader, CRS

Ludwig Parsamian, Ph.D., Broker, Team Leader, CRS

City Center Realty Group

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