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6944 Radford Avenue, North Hollywood, California 91605, North Hollywood, 91605 - bed, bath

6944 Radford Avenue, North Hollywood, California 91605 home-pic-0
ACTIVE$1,498,000
6944 Radford Avenue, North Hollywood, California 91605
0Bed
0Bath
2,420Sqft
9,000Lot
Year Built
1949
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$619
HOA
-
Days on market
-
Sold On
-
MLS number
SR23049997
Home ConditionTear down
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.50M(67th), sqft - 2420(67th), beds - undefined(50th), baths - undefined(50th).

If it says "ACTIVE" it is "ACTIVE." Attention investors, builders, and developers! Four-plex rare opportunity on a corner lot 9,000 Sqft. Zoning LARD3-1, with an incredible opportunity to build up to 18 units, or you can choose to build 4 ADUs. Currently, there are a total of 4 units, each offering 1 bed and 1 bath. Each unit has a reserved parking space, and electric and gas meter. Buy it and start building a new 14,400 Sqft. 3-story complex with 18 units and 36 bedrooms! Just minutes from the Bob Burbank Airport, Hollywood, and Universal Studios, the newly built NOHO West Shopping Plaza; is one of the area's latest developments where you can find the Regal movie theatre, Trader Joe’s, Starbucks, restaurants, boutiques, etc. Per Zimas.lacity.org, the property is an "Eligible Site ED 1" and may be applied to a shelter or 100% Affordable Housing Project on the site. Eligible projects receive expedited processing, clearances, and approvals through the ED 1 Ministerial Approval Process. Please check with LADBS for approved 2025 ADU California laws.

Condition Rating
Tear down
The property was built in 1949, making it 75 years old. The listing description explicitly targets investors and developers, stating the existing four-plex is 'old, likely requiring substantial renovation or demolition' and emphasizes the potential to 'start building a new 14,400 Sqft. 3-story complex with 18 units.' The provided images show a very dated exterior with no signs of recent major renovations. There are no interior images, which typically indicates the interiors are not a selling point and are likely in poor condition. The property's value is clearly based on the land and its redevelopment potential, aligning perfectly with the 'tear-down' criteria.
Pros & Cons

Pros

Exceptional Development Potential: Zoned LARD3-1 on a 9,000 sqft corner lot, allowing for the construction of up to 18 units or 4 ADUs, presenting a significant opportunity for investors and developers.
Strategic Location & Amenities: Minutes away from major hubs like Bob Burbank Airport, Hollywood, Universal Studios, and the newly developed NOHO West Shopping Plaza, offering convenience and high demand.
Expedited Approval for Specific Projects: Designated as an 'Eligible Site ED 1' for shelter or 100% Affordable Housing Projects, qualifying for expedited processing, clearances, and approvals.
Existing Income-Generating Property: Currently a four-plex with individual 1 bed/1 bath units, each having reserved parking and separate electric/gas meters, providing immediate rental income.
Corner Lot Advantage: The property's corner lot position offers enhanced visibility, flexible access points, and potentially more design options for future development.

Cons

Age and Condition of Existing Structures: Built in 1949, the current four-plex is old, likely requiring substantial renovation or demolition, adding to redevelopment costs.
Significant Upfront Investment Required: The list price of nearly $1.5 million, combined with the substantial costs associated with demolition and new construction for an 18-unit complex, demands a considerable capital outlay.
Potential Development Constraints: While the ED 1 designation offers expedited approvals, it may also steer development towards specific project types (shelter or 100% affordable housing), potentially limiting broader market appeal or investor strategies.

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