The Hirth Group of KW Commercial is pleased to present 5753 Camerford Avenue, Los Angeles, CA 90038. The asset is strategically located in the heart of Hollywood, situated a block east of Vine Street and a block north of Melrose Avenue, just west of North Gower Street and south of Santa Monica Boulevard.
The subject property consists of three one bedroom one bath units, of which two are legal and recently remodeled. 5753 Camerford Ave is a tremendous opportunity for a developer to build 15 units due to the fact that the subject property is part of the opportunity zone and positioned in TOC Tier 2, allowing for a 60% density bonus, a FAR increase of 3.25 to 1, and 30 feet (2 stories) and 11 additional feet height restriction. The property currently produces $60,000 annually allowing a developer to have income during the entitlement process.
The subject property is located in the heart of Hollywood surrounded by an influx of development projects and worldwide landmarks such as the Hollywood Palladium, ArcLight, Hollywood Pantage Theatre. 5753 Camerford Avenue is also surrounded by national tenants, for example: Mc Donald’s, Staples, Taco Bell, Trader Joe’s, Bed Bath Beyond, Gold’s Gym, and Pavilions amongst others. Being synonymous with the American entertainment industry, Hollywood is recognized worldwide for its fame and cultural identity as the historical center of stars. This unprecedented industry concentration is complemented by extensive retail and entertainment amenities such as the world famous Hollywood & Highland complex with the Dolby Theater home to the Academy Awards.