List Search

1115 N Heliotrope Dr
Los Angeles, CA 90029 Little Armenia

$1,325,000 USD

Land For Sale  •  0.16 AC

Property Details

  • Property Type Land
  • Lot Size 0.16 AC
  • Zoning LAR4
71 Transit Score
91 Walk Score

Description

Incredible opportunity to acquire a fully RTI-approved 46-unit, 100% affordable ED1 development site in the heart of East Hollywood. The 6,750 SF C2-zoned, TOC Tier 3 lot is approved for a five-story Type IIIA building consisting entirely of one-bedroom units, totaling approximately 17,241 SF of gross building area.

Offered at $1,325,000 — approximately $28,800 per buildable unit — this project represents one of the lowest price-per-unit RTI affordable opportunities currently available in the 90029 submarket. With no on-site vehicle parking requirement and 23 bike spaces provided, the design maximizes unit count and construction efficiency while significantly reducing development costs and timeline risk.

Strategically located in the highly desirable 90029 zip code, the property sits minutes from Hollywood, Koreatown, Silver Lake, and Downtown Los Angeles. The site benefits from TOC Tier 3 incentives, strong transit connectivity, proximity to Metro lines, Kaiser Permanente Medical Center, major employment hubs, and neighborhood retail corridors. East Hollywood continues to demonstrate resilient rental demand driven by healthcare, entertainment, and service-sector employment, making this an ideal opportunity for affordable housing developers seeking a low-basis, fully entitled project in one of Los Angeles’ most supply-constrained rental markets.

Delivered RTI, this offering eliminates entitlement risk and positions a buyer to immediately commence construction.

Public Transportation

Commuter RailDriveWalkDistance
Glendale (Antelope Valley Line - Southern California Regional Rail Authority (Metrolink), Ventura County Line - Southern California Regional Rail Authority (Metrolink)) 9 min - 4.0 mi
9 min - 4.9 mi
Transit/SubwayDriveWalkDistance
Vermont/Santa Monica Station (Red Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 1 min 6 min 0.3 mi
Vermont/Sunset Station (Red Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 1 min 12 min 0.6 mi
AirportDriveWalkDistance
Bob Hope 19 min - 10.8 mi
Los Angeles International 28 min - 16.1 mi
Long Beach (Daugherty Field) 37 min - 25.9 mi
Niccolai Golshan 310-402-4348 New Generation Development Group
Niccolai Golshan 310-402-4348 New Generation Development Group