Description

Two adjacent properties (7044 & 7056 Lanewood Ave) located on 5-lots in prime Hollywood. 37,449 S.F. zoned LAR4, TOC Tier 3 suitable to develop up to a 160 brand new multi-family property (Buyer to verify). Significant (58%) upside in rents. 9.4 x Gross & 7.6% Cap with rents at market. $247,273/Unit. Existing loan secured by 7044 Lanewood is $5,200,000 @ 4% fixed, payable I.O. until 12/1/24. Due 12/1/31 Sold with APN 5548-013-018 (7056 Lanewood Ave)

Features

• 0.86 Acres