1115 N Heliotrope Dr - 46 Unit - ED1 RTI Development 0.16 Acres of Residential Land Offered at $1,814,415 CAD in Los Angeles, CA 90029

Incredible opportunity to acquire a fully RTI-approved 46-unit, 100% affordable ED1 development site in the heart of East Hollywood. The 6,750 SF C2-zoned, TOC Tier 3 lot is approved for a five-story Type IIIA building consisting entirely of one-bedroom units, totaling approximately 17,241 SF of gross building area. Offered at $1,325,000 — approximately $28,800 per buildable unit — this project represents one of the lowest price-per-unit RTI affordable opportunities currently available in the 90029 submarket. With no on-site vehicle parking requirement and 23 bike spaces provided, the design maximizes unit count and construction efficiency while significantly reducing development costs and timeline risk. Strategically located in the highly desirable 90029 zip code, the property sits minutes from Hollywood, Koreatown, Silver Lake, and Downtown Los Angeles. The site benefits from TOC Tier 3 incentives, strong transit connectivity, proximity to Metro lines, Kaiser Permanente Medical Center, major employment hubs, and neighborhood retail corridors. East Hollywood continues to demonstrate resilient rental demand driven by healthcare, entertainment, and service-sector employment, making this an ideal opportunity for affordable housing developers seeking a low-basis, fully entitled project in one of Los Angeles’ most supply-constrained rental markets. Delivered RTI, this offering eliminates entitlement risk and positions a buyer to immediately commence construction.