1323-1331 N June St
Los Angeles,CA 90038
3-Lot Assemblage in Prime Hollywood. 19,950 SF RD1.5 Lot w/ RTI Plans
ASKING PRICE | $4,495,000
Ikon Advisors is excited to present an exceptional ready-to-issue (RTI) three-lot assemblage at 1323, 1325, and 1331 N June St. The lots host a single-family dwelling (SFD) with a spacious backyard, a triplex composed of bungalow units, and a duplex with a large concrete-paved area in the back. This strategic investment offers significant growth potential in a flourishing community with enormous upside.
Plans call for the addition of 6 units, 22 bedrooms, and 16 bathrooms.
The SFD will be renovated and converted from a 1-bedroom, 1-bathroom to a 4-bedroom, 3-bathroom with 622 added square feet. Furthermore, an infill development will be erected behind it composed of three units: two 1,684 SF 4-bedroom, 3-bathroom townhomes and one 1,479 SF 3-bedroom, 2-bathroom ADU.
While there are no plans currently in place for the triplex lot, the large bungalows present great potential upside. Bedrooms and bathrooms can potentially be added to the existing units with added square footage (Buyer to conduct their own feasibility studies).
The existing duplex will be renovated and one of the units will be converted from a 921.5 SF 1-bedroom, 1-bathroom unit to a 2-bedroom, 2-bathroom unit. Additionally, an infill development will be erected behind it composed of three units: two approximately 1,550 SF 4-bedroom, 3-bathroom townhomes and one 1,286 SF 3-bedroom, 2-bathroom ADU. There are no plans currently in place to convert the 2nd duplex unit as it is tenant occupied.
The surrounding neighborhood is a vibrant blend of cultural diversity, offering a dynamic mix of residential and commercial properties primarily in the entertainment industry such as Paramount Pictures, Viacom, and the growing Netflix campus. It boasts strong connectivity with excellent public transportation links and proximity to key amenities like schools, hospitals, parks, and the bustling retail district just north of the site spanning the Hollywood Walk of Fame. The area sees strong demand for real estate, fueled by ongoing urban revitalization and high economic growth guaranteeing increasing rental income and property value for years to come. This development site, complete with RTI plans, is primed for lucrative returns in this burgeoning neighborhood.