$3,700,000 941 N Martel Avenue Los Angeles, CA

MLS: SR21061789   Type: Land   County: Los Angeles   City: Los Angeles   Area: Sunset Strip - Hollywood Hills West   Zip: 90046  

Mortgage $17,371 /mo

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We are proud to present a rare opportunity to acquire Martel Apartments, a shovel ready multifamily development project with complete building permits and plans by renowned architect, Jack Hollander & Associates, Inc. The project is a meticulously planned and amenitized luxury apartment building located in the prime Melrose District of Los Angeles adjacent to West Hollywood. The proposed development calls for 14 apartment units in one four-story building totaling 15,274± building square feet, situated on a 6,986± square foot lot zone LAR3, with 13 + 1 handicap secured on-site subterranean parking spaces. The plans outline a unit mix of (4) singles, (2) one bedroom + 1 bath, (3) one bedroom + 1 bath (designated affordable) and (5) two bedroom + two bath units. Each unit is planned to be equipped with central air and heat, in-unit washer and dryers, balconies, and brand-new appliances (refrigerator, dishwasher & washer/dryer). Unit sizes will range from 345± square feet to 1,255± square feet and all units will be individually metered for both gas and electric. The building amenities include secured subterranean parking, bicycle storage & parking, storage, laundry room with sinks, formal lobby, elevator, recreation room, backyard / patio community area, and front yard landscaping creating gorgeous curb appeal. The Martel Apartments development offers a unique opportunity for a developer to immediately begin building a well-positioned property in an A+ location.

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Price History

3/26/2021 Listed $3,700,000

Additional Parcels Y/N No
Association Y/N No
Community Features Biking, Curbs, Storm Drain(s), Street Lights, Suburban, Sidewalks
Land Lease Y/N No
MLS Area C03 - Sunset Strip - Hollywood Hills West
Property Type Land
Senior Community Y/N No
Sewer None
Terms Contract
Utilities Sewer Not Available
View City Lights, Courtyard, Park/Greenbelt, Neighborhood, Panoramic
Zoning LAR3

Exterior Features

Fencing Chain Link
Lot Features Level, No Landscaping, Rectangular Lot, Value In Land, Walkstreet
Lot Size Acres 0.16
Lot Size Area 0.16
Lot Size Square Feet 6970
Lot Size Units Acres
View Y/N Yes
Water Source See Remarks

Property Schools



Direct Link:

https://www.lahomesbyjackson.com/property/25-SR21061789-941-N-Martel-Avenue-Los-Angeles-CA-90046

Gallery (6 photos)

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Property vs Zip Code Avg (90046)

Price 3.70M Avg 1.43M

Acres 0.16 Avg 0.41

Visits 3 Avg 73

Days on Site 28 Avg 136

Walkscore® 95 Avg 26

Data Provided by Walkscore ® not using MLS data

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Listing Provided Courtesy Of: Raymond Rodriguez with Keller Williams Realty Calabasas.




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Location & Address

Jackson Mosley - DRE#01128579
Corporate Office Location: 2603 Camino Ramon Suite 200
San Ramon, CA
818-518-0740