6400 Farmdale AVE North Hollywood, CA 91606

RTI to build 6 units - Unique opportunity to acquire a shovel-ready vacant corner lot with all structures already demolished, RTI to build 6 new units (3 duplexes), with a unit mix of one (1) four-bedroom, four (4) three-bedrooms, and one (1) two-bedroom unit. The four-bedroom unit is "townhouse style" at 1,824 sf, the three-bedroom units are 950 to 970 square feet (single-story), and the two-bedroom unit is 795 sf. The plans were submitted in 2021 thus avoiding any low-income unit requirements of the new SB8 law that went into effect on 1/01/22. Additionally, the property is located in an opportunity zone. This is an amazing opportunity for a builder who is ready to start their next project immediately, without having to deal with the time, headaches, and cost of the entitlement process with the city, while also avoiding the need to negotiate with any tenants to vacate, all while being able to build a fully market rate project whereas most other projects are now subject to some level of low-income requirement due to the new SB8 law.