"Almost RTI READY" OR KEEP EXISTING COTTAGE AS AN INVESTMENT OPPORTUNITY. Prime Hollywood Hills Development & Investment Opportunity with Iconic Hollywood Sign Views. Rare opportunity in a prime Hollywood Hills location offering tremendous flexibility for a developer, investor, or owner-user. After approximately six years of planning and entitlement work,… Read More the property is anticipated to be RTI (Ready to Issue) in approximately 2 to 3 months for a stunning modern residence that is approx 4,800 sq ft with 5 bed & 6.5 baths designed to take advantage of spectacular views of the iconic Hollywood Sign, city lights, and surrounding mountains. Situated on a beautiful gated corner lot of approximately 16,000 square feet, the property currently features a completely updated 2 bedroom and 1 bath Cottage approximately 850-square-foot, with an open kitchen, breakfast bar, cozy family room and cool dining area , clean contemporary interiors, private backyard, and expansive driveway. A separate small unit provides additional flexibility. Parking for tons of cars. Together, the existing improvements have previously generated approximately $10,000 per month in rental income, creating a compelling opportunity to hold as an investment property while preparing for future development. The property may also appeal to buyers considering a 1031 exchange.Adding to the opportunity, the seller is open to selling the adjacent approximately separately which is 6730 Mulholland which features13,000-square-foot lot for $695,000, providing the potential to acquire nearly 29,000 square feet of combined land. The adjacent parcel is offered as an additional development potential. Ideally located on Mulholland Drive with convenient access to the Hollywood Bowl, Runyon Canyon, Universal City, major freeways, studios, dining, entertainment, and everything Hollywood has to offer. Opportunities combining a prime Hollywood Hills location, substantial lot, existing income, iconic views, and a sophisticated modern project approaching RTI status are exceptionally rare in this location. Read Less
Property listed by Christie's International Real Estate SoCal, Todd Marks 424-249-7162
Listing Snapshot
Days Online
18
Last Updated
Property Type
SingleFamilyResidence
Beds
2
Full Baths
1
Square Ft.
1,000
Lot Size
0.37 Acres
Year Built
1954
MLS Number
26887247
Additional Details
Appliances & Equipment
Dishwasher, Disposal, Refrigerator, Dryer, Washer
Building
Built in 1954, Living area: 1000.0, Levels: One
Fireplaces
None
Floors
Laminate
Laundry
Inside, LaundryRoom
Lot
0.3696 acres, Dimensions: 204x77
Parking
ControlledEntrance, Driveway, Guest
Pool
None
Property
Other structures: Sheds, CityLights, Canyon
Taxes
Parcel Number: 5549002002, Zoning: LARE15
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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