Price: $1,055,000 | Price/SF Land: $133
Lot Size: 7,905 SF | Property Dimensions: 60 SF frontage x 131 SF depth
ADDRESS
6833 Simpson Avenue
North Hollywood, CA 91605
An exceptional opportunity to acquire a highly versatile land and redevelopment opportunity located in the heart of North Hollywood. The property offers multiple development strategies, making it ideal for affordable housing developers, residential builders, investors, and owner-users seeking to capitalize on the continued growth and housing demand throughout the area.
Situated on a ±7,905 square foot lot with approximately 60 feet of frontage and 131 feet of depth, the property is zoned RD1.5 and located within Transit Oriented Communities (TOC) Tier 2, providing significant development potential. In addition, the site is located within an Opportunity Zone (OZ), creating potential tax advantages for qualified investors.
PROPERTY INFORMATION
Land / redevelopment opportunity in North Hollywood
Potential to build 48-unit affordable housing project with preliminary plans already in place
or
Potential to subdivide the lot and develop four detached single-family homes
±7,905 SF lot | Approx. 60’ frontage × 131’ depth
Zoned RD1.5 in TOC Tier 2
Located within an Opportunity Zone (OZ)
Offered at only approximately $133 per land square foot
Dense infill neighborhood just north of Vanowen Street and west of Lankershim Blvd.
Short drive to Hollywood Burbank Airport and the NoHo Arts District
Easy access to the Interstate 170 Freeway
Currently a vacant duplex (Ellis Act)
Option 1 – 100% Affordable Housing Development
Ownership has completed initial studies and obtained preliminary plans for a proposed 48-unit affordable housing development consisting of 44 one-bedroom units and 4 single units. The project has already achieved meaningful entitlement progress, including stamped approvals from ADA, Fire Department, Zoning, and PZA, offering substantial time and cost savings for the next developer. The remaining process toward entitlement completion and RTI status is estimated to take approximately 6-8 months. This development strategy presents a compelling opportunity for affordable housing developers, nonprofit organizations, and investors seeking to capitalize on the growing demand for affordable housing throughout Los Angeles.
Option 2 – Small Lot Subdivision project pursuant to Los Angeles Municipal Code (LAMC) Section 12.22 A.36
The 7,905 square foot lot with approximately 60 feet of frontage may be suitable for a Small Lot Subdivision project. The site appears ideally suited for the development of approximately 5 to 7 fee-simple townhome-style residences with potential rooftop decks and reduced parking requirements due to its TOC Tier 2 designation, subject to buyer verification and City approval.