1222 Beachwood Drive

Description

Prime Net Lease is pleased to present 1222 N Beachwood Dr, an exceptional residential development opportunity with RTI (ready-to-issue) permits in place, located in the highly coveted Hollywood 90038 zip code. The project is fully entitled, including a complete architectural set, schematics, and budgets (available upon request), and is approved for 8 Market Rate and 3 Low Income units. This modern 4-story development will feature 11 thoughtfully designed units with a well-balanced unit mix, and first-floor parking with 14 vehicle spaces and 24 bicycle spaces (20 long-term and 4 short-term).With a total area of 11,107 square feet and 9,547 square feet of livable space, this opportunity appeals to a diverse range of tenants seeking to experience Hollywood's vibrant cultural scene. The 6,752-square-foot lot is zoned R3 and contains no existing structure, sparing investors the financial burden of tenant buy-outs or demolition. The property's location is rated as Very Walkable, with a Walk Score of 88.Located within an Opportunity Zone and designated as a TOC Tier 2 area, 1222 N Beachwood Dr offers strategic tax incentives (Buyer to verify) and increased density options that align with the city's vision for urban growth and housing.