1110 Gower St, Los Angeles, CA 90038
0.15 Acres of Commercial Land Offered at $1,895,000 USD in Los Angeles, CA 90038
For Sale
Active
Asking Price $1,895,000
- Property Type
-
Land
- Square Feet
- 6,534 SF
Listing Contacts
David Ghermezian
Jonathan Dadourian
Property Overview
1110 N Gower Street is comprised of an approximately 2,133 SF two story commercial building on approximately 6,500 SF of land zoned CM-1VL. The property has two unoccupied structures that total approximately 4,133 SF which will be delivered vacant at the close of escrow: a two-story commercial building approximately 2,133 SF (per County Assessor), and an additional 2,000 SF storage building at the rear which may be unpermitted. The property is one parcel north of the northeast corner of Santa Monica Boulevard and Gower Street which is a signalized intersection. The zoning allows for a base FAR of 1.5 and a base unit density of R3 (1 unit per 800 SF of land). However, by utilizing new State of California Affordable Housing bonuses, you may be able to get a 100% density bonus by providing 30% of the base units as affordable housing (15% very low income units, and 15% moderate units). This results in a total of approximately 17 units allowed at the property (13 market rate units, and 4 affordable units). The property is also located in Hollywood Community Plan Update (“HCPU”) which when signed into law, may provide further FAR and Unit Density bonuses.
Property Details
- Property Subtype
- Commercial
Highlights
- Vacant two-story commercial building approximately 2,133 SF (per County Assessor). Additional 2,000 SF storage building at the rear.
- Owner-user opportunity.
- Ample land area to develop a new multi-family apartment building on the entire site.
- Demand for housing in Hollywood is very high, and apartment rents are strong within the sub-market.
- The property is located in an Opportunity Zone providing tax incentives and deferred capital gains.
All available spaces
- Space
- Lot 1
- Size
- 6,534 SF
- Price
- $1,895,000
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