12012 Hart St 0.16 Acres of Residential Land Offered at $2,024,084 CAD in North Hollywood, CA 91605

RTI 22-Unit 100% Affordable Housing Development Opportunity Exceptional development opportunity in the heart of North Hollywood—RTI and ready to build. This fully entitled 22-unit multifamily project consists of 19 one-bedroom units and 3 studio units, all designated for affordable housing. The property offers a total project cost of approximately $6,050,000, including land, RTI approvals, soft costs, permit fees, and construction estimates, with an as-completed stabilized value of approximately $8,662,600 at a 5% cap rate. Located in a prime infill location near the NoHo Arts District and NoHo West, the site benefits from excellent access to major employment centers such as Universal Studios, Warner Bros, and Disney, as well as convenient proximity to the Metro Red and G Lines for seamless transit connectivity. The area continues to see strong rental demand and rapid absorption for affordable housing, making this a compelling investment opportunity. With all entitlements approved and plans ready for immediate construction, this turnkey affordable housing project offers developers the chance to capitalize on Los Angeles’ strong housing incentives and potential property tax exemptions through nonprofit partnership. Delivering a projected 7.2% yield on cost, this is a rare RTI deal combining strong financial performance, immediate buildability, and long-term stability in one of the Valley’s fastest-growing submarkets.