Unique opportunity in the heart of Hollywood, California on the famous Melrose Avenue. This property is a gated duplex with separate utilities for upstairs and for downstairs. There are 9 parking spaces on the property.
The property is zoned commercial on the lower level and zoned residential for the upper level.
This property is in a "hot spot" for investors because there are skyrise condos being built around the property. This property is ideal for an investor who wants to tear down the existing structure and build condos or a parking lot.
The existing property structure had a safety violation from the LADBS (Los Angeles Department of Building and Safety) which turned into a lien. Demolition of the existing property struction to prepare it for development, would remove the violation and lien since the violation is for the EXISTING structure safety issue. Buyer to verify all information and must do their own due diligence.
Based on information from California Regional Multiple Listing Service, Inc. as of April 16th, 2021 at 6:37am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.