5426 Melrose Avenue Los Angeles CA 90038 MLS #P1-18666

Prime Commercial Property For Sale – 10,124 Sq. Ft. Contiguous Land!The Phillips Group is pleased to offer this incredible redevelopment corner site with alley access made up of two parcels(APN 5523-025-009 & 012) totaling approximately 10,124 SF (0.23 Acres) of land and 7,000 SF of existing vacantstructures. Properties are located on Melrose Avenue in Los Angeles, CA just across the street from the ”Melrose Gate” of the famed Paramount Pictures Studio Lot. The property lays between chic Larchmont Village and bustling Hollywoodneighborhoods. A short drive to the Southwest will land you at the Wilshire Private Country Club or the Los Angeles Tennis Club and a similar distance to the Northeast will take you to the 101 FWY entrance and intersection of Santa Monica Blvd. and Western Ave. The redevelopment opportunities are abundant with the existing C2-1 zoning, which allows a variety of Commercial uses including Office, Hotel, Clinics, Retail w-Limited Manufacturing, Broadcasting Studios, Restaurants and more at 1.5:1 FAR. C2-1 zoning also allows residential projects via R4 zoning (base density is 400 SF of land/dwelling unit at 3:1 FAR).