557 N MARIPOSA AVE Los Angeles, CA 90004

LOCATED IN OPPORTUNITY ZONE. A rare offering in rapidly developing East Hollywood neighborhood and situated between Melrose Ave & Beverly Blvd, two of the most prestigious streets within Los Angeles, on a VACANT TIER ONE double lot comprised of 16,500+/- SF offering MULTIPLE EXIT STRATEGIES: (1) RTI building permits for 12 luxury 2-story townhouse style apt homes over basement garage with unit mix of ten 2BR/2.5BA & two 3BR/2.5BA units, (2) place condo tract map (at buyers expense) on existing RTI permits & sell as individual condos, (3) development opportunity to build up to 21 units per TOC Tier 1 guidelines w/ incentives of reducing open space by 20% and setbacks by 25%, etc, or (4) develop Small Lot Oridinance. Plans & reports available upon request. Centrally located with convenient access to 101 FWY and close to shops/restaurants & near Miracle Mile, Hollywood, Silverlake, Larchmont/Hancock Park & DTLA. SOLD AS IS. Buyer to verify all information.