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Map
$4,772,508*
●
Land -
Off Market
539 N Hobart Blvd
LOS ANGELES, CA 90004
Studio
0 Bath
$4,050,000 - $4,950,000
Reference Base Price*
6.06%
Since Feb 1, 2022
CA-Los Angeles
Primary Model
Sold Dec 21, 2021
$4,200,000
$10,785,000
by Liberty Bank, N.a.
Mortgage
Sold Sep 07, 2018
$1,180,000
Buyer
Seller
$885,000
by 2823 Leeward Llc
Mortgage
About This Property
We are proud to exclusively present for sale a Development
Opportunity in Koreatown. A modern and attractive design with
spacious apartments, this 39 Unit Project features all 2 Bed, 2
Bath units, many with balconies. 4 Units will be Affordable
(Extremely Low Income) and the Project is not subject to RSO.
The property consists of 3 contiguous lots totaling 18,438 SF
R3-1 Tier 2 land. The design features one level of
subterranean parking and one level of on grade parking, two
elevators, a Leasing Office, an 866 SF Rec Room, Storage, Bicycle
Parking, 67 Parking Spaces, Roof Decks and is about 90%
completewithin striking distance of being Ready-to-Issue. The
property has the possibility of converting the Leasing Office
and/or the Rec Room to an ADU. The incredibly pedestrian
friendly location gets a Walkers Paradise rating from Walk Score,
being just down the street from Larchmont, Los Feliz and Virgil
Village, with a great variety of restaurants, shopping and
nightlife in the area. The Melrose and Western area has
garnered tremendous attention, with a lot of money flowing in and a
lot of new development all around. High paying Entertainment
Industry Jobs can be found at Paramount Studios, Raleigh Studios
and Conway Recording Studios just down the road. Central to
all with easy access to the 101 freeway, and near both the
Beverly/Vermont & Santa Monica Blvd./Vermont Metro Subway Stations,
this location and this beautifully designed project is sure to rent
quickly, at the top of the market, with many long-term tenants.
Transaction includes 3 Lots, each with its own APN.
APNs included in this transaction are: 5521-012-025,
5521-012-026 & 5521-012-027.
Unit Size
-
Days on Market
-
Land Size
0.42 acres
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
-
Year Built
1912
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Jan 4, 2022 | No longer available | - | |
No longer available | |||
Dec 5, 2021 | In contract | - | |
In contract | |||
Sep 14, 2021 | Listed | $4,500,000 | |
Listed | |||
Jan 31, 2019 | No longer available | - | |
No longer available | |||
Jan 7, 2019 | Listed | $1,300,000 | |
Listed | |||
|
|||
Developer dream. Property is located near the sought after Korea
town and Hollywood market. 3 adjoining R3-1 parcels, with a total
of 18,400sf. 539, 541 and 547 N Hobart Blvd are 3 SFR and not
subject to Rent Control. You can develop 23 units by right or 39
units with TOC tier 2 bonus. All 3 parcels are to be sold together.
Price is $3,900,000 for all 3.
The manager has listed the unit size as 1354 square feet.
|
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Property Highlights
Building Info
Overview
Building
Neighborhood
Zoning
Geography
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
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