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Hollywood Hills West Split C4/R3 Property, 123 Potential Units with Tier 3 TOC

Hollywood Hills West Split C4/R3 Property, 123 Potential Units with Tier 3 TOC

APN: 5551-017-006, 5551-017-007, 5551-017-005

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C4-1D, R3-1XL
Zone/District
123 (77 in C4 zone + 46 in R3 zone)
Max Unit
38,660 sq. ft.
Lot Size
Tier 3
TOC
3
Lots
Existing Conditions
Floor Area 8,484 sq. ft. (combined)
Units 15 (combined)
Year Constructed 1931/1970/1921
Assessed Improvement Value $484,981 (combined)
Assessed Land Value $9,291,299 (combined)
Development Potential (By-Right)
Maximum FAR 1:1 in C4 zone, 3:1 in R3 zone
Maximum Height
Feet

None in C4 zone, 30 ft. in R3 zone

Stories

None in C4 zone, 2 in R3 zone

Minimum Setbacks
Front

0 ft.

Along Sunset Blvd.

Side

20 ft./5 ft.

20 ft. building line along Laurel Ave. in R3 zone per ORD-102962; setbacks required only for residential stories in C4 zone; add 1 foot of side setback for each story over 2, not to exceed 16 ft.; no side setback required for commercial only uses in C4 zone; no side setbacks required for mixed use project abutting street or alley

Back

15 ft.

Max Buildable Area, Footprint 32,500 sq. ft. (17,000 sq. ft. in C4 zone + 15,500 in R3 zone)
Max Buildable Area, Envelope 64,349 sq. ft. (17,849 sq. ft. in C4 zone + 46,500 in R3 zone)
Max Dwelling Units 70 (44 in C4 zone + 26 in R3 zone)
Affordable Units Required None
Parking Required 1 space per unit with less than 3 habitable rooms 1.5 spaces per unit with 3 habitable rooms 2 spaces per unit with more than 3 habitable rooms 1 space per guest room (first 30)
Required Bicycle Parking
Long Term 1 space per unit for units 0-25; 1 spaces per 1.5 units for units 26-100; 1 spaces per 2 units for units 101-200; 1 spaces per 4 units for units 201+
Short Term 1 space per 10 units for units 0-25; 1 spaces per 15 unit for units 26-100; 1 spaces per 20 units for units 101-200; 1 spaces per 40 unit for units 201+
Transitional Height Limitations Portions of Buildings in C or M zones with certain distances of RW1 or more restrictive zones shall not exceed the following limits: Distance (ft.) Height (ft.) 0-49 25 50-99 33 100-199 61
Required Open Space 100 sq ft per unit with less than 3 habitable rooms 125 sq ft per unit with 3 habitable rooms 175 sq ft per unit with more than 3 habitable rooms
Other Development Notes
Development Potential (with TOC or DB)
Maximum FAR 2.75:1 in C4 zone, 4.5:1 in R3 zone
Maximum Height
Feet

None in C4 zone, 52 ft. in R3 zone

Projects located in a zone where the maximum height is 45 ft. or less, or located within a Specific Plan that limits height, height increases over 11 ft. must be stepped-back at least 15 ft. from the exterior face of the ground floor building located at any street frontage.

Stories

None in C4 zone, 4 in R3 zone

Minimum Setbacks
Front

0 ft.

Along Sunset Blvd.

Side

20 ft./5 ft./3.5 ft.

20 ft. building line along Laurel Ave. in R3 zone per ORD-102962; add 1 foot of side setback for each story over 2, not to exceed 16 ft. in R3 zone; side setback required for portions of buildings erected for residential uses, no setbacks required for ground floor commercial in C4 zone; no setbacks required for mixed use project abutting street or alley in C4 zone

Back

10.5 ft.

Max Buildable Area, Footprint 33,324 sq. ft. (17,000 sq. ft. in C4 zone + 16,354 sq. ft. in R3 zone)
Max Buildable Area, Envelope 122,678 sq. ft. (49,084 sq. ft. in C4 zone + 73,594 in R3 zone)
Max Dwelling Units 123 (77 in C4 zone + 46 in R3 zone)
Affordable Units Required at least 10% for Extremely Low Income, or 14% for Very Low Income, or 23% for Low Income
Parking Required Shall not exceed .5 space per unit
Required Bicycle Parking
Long Term 1 space per unit for units 0-25; 1 spaces per 1.5 units for units 26-100; 1 spaces per 2 units for units 101-200; 1 spaces per 4 units for units 201+
Short Term 1 space per 10 units for units 0-25; 1 spaces per 15 unit for units 26-100; 1 spaces per 20 units for units 101-200; 1 spaces per 40 unit for units 201+
Transitional Height Limitations The building height limit shall be stepped-back at a 45-degree angle as measured from a horizontal plane originating 25 feet above grade at the property line of the adjoining lot (C4 zone).
Required Open Space Up to 25% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description Lots 14-16, TR 1607
Land Use Neighborhood Office Commercial; Medium Residential
Area Planning Commission Central
Community Plan Area Hollywood
Neighborhood Council Hollywood Hills West
Council District 4
Councilmember David Ryu
Red Flags
Properties subject to the Rent Stabilization Ordinance (RSO) must replace existing affordable units at a rate of 1 to 1 or 20% of new proposed units, whichever is greater.
Per ORD-164714, The total floor area of all buildings on a lot shall not exceed one (1) times the buildable area of the lot (C4 portion of property only).
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Particulars By-Right TOC or DB
Total Buildable
Net Buildable
Average Construction Cost
Total Construction Budget
Total Soft Costs
Total Development Budget
Gross Annual Rents
Expenses (25%)
NOI
Valuation
Equity After Completion
Equity Multiple
IRR

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