0.16 Acres of Land for Sale in Los Angeles, CA

Rare ground-up multifamily development opportunity in Hancock Park with RTI permits in place. 4915 Elmwood is a 6,803 SF R3-1 lot with a planned 18-unit, two-building, 8,242 SF project, no parking required. Front building: 3 stories, 8 apartments (mix of 1BR, 1BR+Den, and 2BR), most with private patios or shared roof deck. Rear building: 2 stories, 2 detached ADUs plus 6 permitted recreation rooms, designed for post-Certificate of Occupancy conversion to 6 additional ADUs, bringing the project to 18 units total under California state ADU law. All-electric, rooftop solar, individually submetered. No elevator. Delivered outside LA's Rent Stabilization Ordinance as new construction. Currently improved with a 1920s Craftsman SFR and garage, delivered vacant and ‘as is’ at close of escrow. Quiet tree-lined residential street, minutes to Larchmont Village's shops and restaurants. Full plans and entitlement file available to qualified buyers. Buyer to independently verify all material facts with LADBS and the City of Los Angeles.