9 Units in Hollywood Delivered Fully Vacant (Los Angeles, Ca)

Development Opportunity

1255 Lyman Place, Los Angeles, CA, USA

Property Description

Lyman & La Mirada is a fully vacant 9 Unit property located in the heart of East Hollywood directly across the street from the Ronald McDonald House and walking distance to Hollywood Presbyterian Hospital & Children’s Hospital (CHLA). This investment offers an owner occupier, investor, or experienced developer a chance to achieve the highest & best use for this corner lot in a highly dense rental market.

The property is comprised of two parcels totaling 5,082 SF building size with 3 units in the front and a 6 unit building in the back that’s all 1bd/1bath.  And with a large detached garage and ample parking, there is potential for an ADU conversion.

The entire property will be delivered vacant at close of escrow, allowing a new owner to collect rents while working through potential entitlement plans.  The buildings were originally built in 1922 & 1953 and sits on a total corner lot size of 12,851 SF for future development potential.

Features and Highlights

  • 1st Time on Market in 45+ Years!
  • Property will be Delivered Vacant, and Both Parcels Sold Together.
  • Subject to City of Los Angeles Rent Stabilization.
  • Amazing Location in East Hollywood directly across the street from Ronald McDonald House, walking distance to Hollywood Presbyterian, Children’s Hospital, Kaiser Permanente Sunset, Barnsdall Park, Metro Station, and near Los Feliz, Sunset Junction, Virgil Village, Little Armenia, Thai Town, Griffith Park, Trendy Restaurants & Shops.

Property Details

  • Price:$2,950,000
  • APN:5542-018-014 & 015
  • Units:9
  • Vacancy:100%
  • Building Size:5,082 SF
  • Lot Size:12,851 SF
  • Year Built:1922/1953
  • MLS:OC21137070

Listing Agent: Brian Noh, CCIM DRE: 01438115

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