About this home

We found 3 Cons,5 Pros. Rank: price - $2.08M(79th), sqft - 11974(97th), beds - 25(97th), baths - 25(97th).

PRIME LOCATION INVESTMENT OPPORTUNITY IN THE HEART OF NoHo – RTI Plans for 25 Units! Attention investors and developers: an exceptional opportunity awaits to acquire an 11,974 sq ft R4-1VL lot in the coveted NoHo Arts District. This prime location offers unparalleled convenience, situated just steps from the Metro station, renowned dining, vibrant bars, and premier entertainment options that define North Hollywood’s dynamic lifestyle. This property will be delivered with RTI plans, fully approved for the construction of a 25-unit development—offering a streamlined path for development in a high-demand area. Complete project documentation will be available to serious buyers with qualifying offers. Additionally, the property can be delivered vacant, ensuring immediate access for development. Don’t miss the chance to capitalize on this rare offering in one of Los Angeles’s most sought-after neighborhoods. All projected figures, including potential income and expenses, are estimates based on future possibilities and are subject to change. These numbers are not guaranteed and should be independently verified. Buyer to conduct their own due diligence to confirm all information provided.

Condition Rating

Tear down

The property was built in 1938, making it over 50 years old. The listing explicitly states it's an investment opportunity for a 25-unit development, and the existing Single Family Residence will 'likely require demolition.' The property's value is based solely on the land and its potential for redevelopment, aligning perfectly with the 'tear-down' criteria, despite the current structure appearing outwardly maintained in the images.

Pros & Cons

Pros

Prime Location: Situated in the heart of the NoHo Arts District, just steps from the Metro station, dining, bars, and entertainment, offering unparalleled convenience and desirability for future residents.

RTI Approved Plans: The property comes with fully approved 'Ready-To-Issue' (RTI) plans for a 25-unit development, significantly streamlining the development process and reducing time and risk for the investor.

High-Demand Market: Located in a high-demand area and one of Los Angeles's most sought-after neighborhoods, indicating strong potential for rental income or unit sales upon completion.

Significant Development Potential: Zoned R4-1VL with approved plans for 25 units on an 11,974 sq ft lot, maximizing the land's potential for a substantial multi-family development.

Vacant Delivery: The property can be delivered vacant, ensuring immediate access for development without the delays or costs associated with tenant relocation.

Cons

Extensive Buyer Due Diligence Required: The listing explicitly states that all projected figures are estimates and not guaranteed, requiring the buyer to conduct their own comprehensive due diligence to verify all information and financial projections.

Demolition Costs: The property currently features a Single Family Residence built in 1938, which will likely require demolition to proceed with the 25-unit development, incurring additional costs and project timelines.

Lot Size Discrepancy: There is a discrepancy in the provided data, with the description stating an '11,974 sq ft R4-1VL lot' while the 'lot_size' field indicates 5788 sq ft, which requires clarification for accurate project planning.

About this home

Pros

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5067 Bakman, North Hollywood, California 91601, North Hollywood, 91601 - 25 bed, 25 bath

About this home

Pros

Cons

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI