WEST HOLLYWOOD HILLS – VIEWMONT DR. | 3 Contiguous Lots in the Hollywood Hills,
NEW CONSTRUCTION OPPORTUNITY | HUGE UPSIDE
Developer Opportunity, 3 Contiguous Lots in the Hollywood Hills
Nestled Between Million Dollar Homes, these 3 joined lots are a great DEVELOPER OPPORTUNITY to build an amazing VIEW HOME! These side by side lots total 18,067 square feet. Zoning will allow one SFR with a max living area of 4,722 square feet. Cash on cash report at $1,400 per square foot indicate an approximate ROI of 38% with a maxed out build of $400 per square foot. Current comps are ranging from $1,400 to $2,100 per square foot suggesting an opportunity for greater upside.
This property enjoys sweeping views across the city and to the Pacific Ocean. Directly adjacent to the property is a current multi-home development. The development has a five-house plan that has been approved for construction. The first home is a 7,500 square foot modern contemporary masterpiece nearly completed. The following four homes to be built are ear marked for smaller living sizes ranging from 5,000 to 6,500 sq.ft., raising comps and attracting more potential buyers to the neighborhood. REulti Report available upon request.