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$ 3,700,000
Est. payment | /mo
0.41 Acres Lot
$ 3,700,000
Est. payment | /mo
0.41 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL26647655
HOA Y/N No
Lot Size 0.410 Acres
Acres 0.41
Property Sub-Type Unimproved Land
Property Description
Rare opportunity to acquire two side-by side development sites totaling approximately 17,866 square feet of R3-1 zoned land, located at 5346 and 5352 Franklin Avenue in the highly sought-after Los Feliz submarket of Los Angeles. Offered together at a combined asking price of $3,700,000, these parcels provide exceptional CEQA-exempt development potential with meaningful scale, flexible entitlement options, and strong alignment with the city's housing production priorities. Each parcel is approximately 8,933 square feet and must be developed independently due to limitations under Section 7.A of the Vermont/Western SNAP (Station Neighborhood Area Plan, Subarea A), which restricts lot mergers exceeding 15,000 square feet. While this may seem like a limitation, it creates a strategic opening for developers to pursue two separate high-density projects either simultaneously or in a phased approach. Each site is capable of delivering over 100 units with ministerial approvals and no CEQA review, offering a level of entitlement efficiency rarely available in Infill Los Angeles.Under Executive Directive 1 (ED1), each parcel may support up to 102 units(buyer to verify), translating to a land basis of just $19,118 per buildable unit.ED1 allows for streamlined approvals, reduced parking requir
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Exterior
View Y/N true
View Hills
Building
New Construction No
Others
Tax ID 5544006033
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Listed by Jacob Zacuto • Zacuto Group
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Debbi DiMaggio Betta
REALTOR | Partner | Lic# 01047447