Sold at List Price | RTI Development | 14 Units | Toluca Lake
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The successful sale of this 14-unit, RTI development site located at 4433 Cartwright Avenue in the Toluca Lake market of North Hollywood, California.
Property Description
The vacant site totals 6,500 square feet, zoned R3-1-RIO and is located in the high profile Toluca Lake submarket of the San Fernando Valley. The offering is RTI (ready-to-issue) for 14 units. The 4-story apartment complex has a great unit mix with one and two bedroom units and only two of them are low income. The plans have been reengineered with 8 on grade parking spaces, significantly reducing the cost and time of construction.
4433 Cartwright is ideally located within 2 miles of many restaurants, retail, grocery, and entertainment options. The property boasts a Walk Score of 77 indicating that it is very walkable as most errands can be accomplished on foot. Multiple transit options are also available including the 101 and 134 freeways, both on and off ramps are within a 1-minute drive. The Universal Studios/Studio City Metro Red line station is located 1 mile away which provides direct service to Union Station in Los Angeles.
Deal Story
The successful sale of this 14-unit, RTI development site located at 4433 Cartwright Avenue in the Toluca Lake market of North Hollywood, California.
Property Description
The vacant site totals 6,500 square feet, zoned R3-1-RIO and is located in the high profile Toluca Lake submarket of the San Fernando Valley. The offering is RTI (ready-to-issue) for 14 units. The 4-story apartment complex has a great unit mix with one and two bedroom units and only two of them are low income. The plans have been reengineered with 8 on grade parking spaces, significantly reducing the cost and time of construction.
4433 Cartwright is ideally located within 2 miles of many restaurants, retail, grocery, and entertainment options. The property boasts a Walk Score of 77 indicating that it is very walkable as most errands can be accomplished on foot. Multiple transit options are also available including the 101 and 134 freeways, both on and off ramps are within a 1-minute drive. The Universal Studios/Studio City Metro Red line station is located 1 mile away which provides direct service to Union Station in Los Angeles.
