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5254 Riverton Ave - Development Opportunity 0.19 Acres of Residential Land Offered at $2,789,000 CAD in North Hollywood, CA 91601
Executive Summary
The property consists of an 8,109 SF flat LAR3 lot (Tier 3 TOC) with 60’ frontage and 135’ depth. SB-8 exempt.
Approved plans for a 4-story, 16,491 Rentable SF apartment building featuring:
• 7 one-bedroom / one-bath units (725–825 SF)
• 7 large one-bedroom / two-bath units (approx. 970 SF)
• 1 large two-bedroom / two-bath unit (approx. 1,000 SF)
Unit layouts allow potential conversion of open areas into additional bedroom/den space, enhancing rental upside. Plans include 17 on-site parking spaces.
Ownership will deliver with permits ready to issue upon payment of fees — true shovel-ready opportunity.
Prime walkable location near retail, dining, and entertainment. Easy access to 101 & 134 Freeways and the nearby Universal/Studio City station with direct service to Downtown Los Angeles.
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Property Facts
| Price | $2,789,000 CAD | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Apartment Units |
| Sale Condition | 1031 Exchange | Total Lot Size | 0.19 AC |
| No. Lots | 1 | Opportunity Zone |
Yes
|
| Property Type | Land | ||
| Zoning | R3-1VL - LAR3 (Tier 3 TOC), with 60’ frontage and 135’ depth. SB-8 exempt. | ||
| Price | $2,789,000 CAD |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.19 AC |
| Opportunity Zone |
Yes |
| Zoning | R3-1VL - LAR3 (Tier 3 TOC), with 60’ frontage and 135’ depth. SB-8 exempt. |
1 Lot Available
Lot
| Price | $2,789,000 CAD | Lot Size | 0.19 AC |
| Price Per AC | $14,981,977.76 CAD |
| Price | $2,789,000 CAD |
| Price Per AC | $14,981,977.76 CAD |
| Lot Size | 0.19 AC |
Vacant lot
Description
Rare RTI development opportunity in the highly desirable North Hollywood's Arts District, Shovel ready opportunity - Ownership will deliver with permits ready to issue upon payment of fees. The property consists of an 8,109 SF flat LAR3 lot (Tier 3 TOC) with 60’ frontage and 135’ depth. SB-8 exempt. Approved plans for a 4-story, 16,491 Rentable SF apartment building featuring: • 7 one-bedroom / one-bath units (725–825 SF) • 7 large one-bedroom / two-bath units (approx. 970 SF) • 1 large two-bedroom / two-bath unit (approx. 1,000 SF) Unit layouts allow potential conversion of open areas into additional bedroom/den space, enhancing rental upside. Plans include 17 on-site parking spaces. ________________________________________
Property Taxes
| Parcel Number | 2416-024-002 | Improvements Assessment | $450,662 CAD |
| Land Assessment | $1,502,210 CAD | Total Assessment | $1,952,872 CAD |
Property Taxes
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5254 Riverton Ave - Development Opportunity
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