6833 Simpson Ave North Hollywood, CA 91605

Vacant Duplex Nearly RTI for 52 Affordable Units in North Hollywood | 7,905 SF Lot | LARD1.5

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$1,400,000

Property Highlights

Opportunity to demolish existing duplex (2+1, 1+1) and build 52 affordable units through ED-1 incentives
7,905 SF LARD1.5 zoned lot, 33,602 GFA over 7 floors
Weeks away from being fully RTI
Proposed breakdown: (47) 1BR/1BA units and (5) studios
Located in N. Hollywood off Vanowen and Lankershim
Utilizes density bonus and AB-2345
Current Status of Proposed ED-1 Development:
- DAS Approval: APPROVED
- Fire Department: APPROVED
- PZA Approval: APPROVED
- Zoning Approval: APPROVED
Planning Department: Case filed and it's “Under Process”
LID approval: Need structural plan
Building and Safety: Need structural plan

The Opportunity

The Glaser Group is pleased to present a near-RTI development opportunity in the heart of North Hollywood. Situated on a 7,905 square foot LARD1.5-zoned lot with generous dimensions of 131.75 feet by 60 feet, the property currently features a vacant duplex (2+1, 1+1) and is in the final stages of approval for a 52-unit affordable housing development. The project has already secured Zoning (RD1.5), Fire Department, DAS and PZA approvals. Planning Department, Building & Safety and LID review are pending—making it an almost RTI opportunity ideal for developers seeking a near-immediate path to construction.

In addition to the nearly approved affordable housing plan, the property also qualifies for alternative development options under current zoning, including nine market-rate apartment units with parking, or seven townhomes plus two ADUs—also with parking (Buyer to verify). A new owner also has the option to renovate and rent the existing vacant duplex as an income producing rental property. This flexibility allows investors to tailor the project to their investment goals, whether delivering mission-driven affordable housing or pursuing a market-rate strategy in a high-demand area.

Offered at $1,400,000, or just $177.10 per square foot of land, the property presents an attractive land basis for a development site with entitlement momentum in one of Los Angeles’ most connected neighborhoods. North Hollywood continues to grow as a major residential and employment hub, supported by access to the Metro Red Line, the revitalized NoHo Arts District, and close proximity to major entertainment and creative industry employers.

With housing affordability at a critical juncture, this project stands to make a meaningful impact by delivering high-quality homes to residents most affected by rising rents. Affordable housing in this location improves not only quality of life and residential stability, but also supports access to job opportunities, schools, and essential services.