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Daina Burness

West Hollywood CA Real Estate & Commercial for Sale

1 Properties Found

The median home value in West Hollywood, CA is $999,500. This is higher than the county median home value of $790,000. The national median home value is $308,980. The average price of homes sold in West Hollywood, CA is $999,500. Approximately 22% of West Hollywood homes are owned, compared to 70% rented, while 8% are vacant. West Hollywood real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you like to see a property, contact West Hollywood real estate agent to arrange a tour today!
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Beds:
n/a
Baths:
Sq.Ft.:
37,316
Status:
Active
MLS#:
23326179
Type:
Business Opportunities
Lot size:
0.15 Acres
Year built:
2025
Listing Agent: Eliyahu Appel CalDRE: 01918652 - Marcus & Millichap
View additional info

New $605,000 Price Adjustment. $1,005,000 Total Adjustment. We are pleased to present the exclusive listing of a by right development opportunity. 1051 N Edinburgh Ave is a prime West Hollywood location nestled south of Santa Monica Blvd, east of Crescent Heights and west of Fairfax Ave. The proposed development project consists of 28 Market rate units and 7 affordable units, totaling 35 Units, within 37,316 sqft of gross floor area on 6,532 sqft of land & one level subterranean with the ability to do automated parking for a total of 22 spaces. The Development project was submitted prior to West Hollywood's compliance of their housing element and is one of only four projects in the city that were submitted under the Housing Accountability Actsection of the California Government Code that has been colloquially labeled the Builder's Remedy. The project can be designed as anything between 25 and 35 units so long as 20% of the total are affordable or does not veer 20% or more from the square footage of the submitted SB330 Application (CA Building Code Square Footage)Per Costar, there are 10 projects under construction consisting of 5-43units within .4 miles of Edinburgh. Even if you reduced the density to25 units to achieve larger units, 1051 n Edinburgh would have the 2ndlargest unit count of the under-construction projects allowing for a valuable mid-size asset in a superb location. Additionally, there were only 6 projects that have been completed within mile of the subject property in the last 5 years. Introducing only 171 new units to cater to those who want to live the sought-after West Hollywood lifestyle. Upon completion, new construction projects are primed to command top rentals seen by the six (6) new construction projects recently completed. The existing improvements consist of a duplex comprised of two separate structures with a 2+1 and a 1+1 built in 1923 situated on a 6,532 square foot lot, delivered vacant at close of escrow. Buyer to verify all information including but not limited to proposed development unit count and SF independently and with listing broker

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The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

Based on information from CRISNet MLS as of 3/3/2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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