Seller motivated. All reasonable offers will be considered. Offers due by Tuesday, June 15, 2021 by 5:00 PM.
We are proud to present a rare opportunity to acquire Martel Apartments, a shovel ready multifamily development project with complete building permits and plans by renowned architect, Jack Hollander & Associates, Inc. The project is a meticulously planned and amenitized luxury apartment building located in the prime Melrose District of Los Angeles adjacent to West Hollywood.
The proposed development calls for 14 apartment units in one four-story building totaling 15,274± building square feet, situated on a 6,986± square foot lot zone LAR3, with 13 + 1 handicap secured on-site subterranean parking spaces.
The plans outline a unit mix of (4) singles, (2) one bedroom + 1 bath, (3) one bedroom + 1 bath (designated affordable) and (5) two bedroom + two bath units. Each unit is planned to be equipped with central air and heat, in-unit washer and dryers, balconies, and brand-new appliances (refrigerator, dishwasher & washer/dryer). Unit sizes will range from 345± square feet to 1,255± square feet and all units will be individually metered for both gas and electric.
The building amenities include secured subterranean parking, bicycle storage & parking, storage, laundry room with sinks, formal lobby, elevator, recreation room, backyard / patio community area, and front yard landscaping creating gorgeous curb appeal.
The Martel Apartments development offers a unique opportunity for a developer to immediately begin building a well-positioned property in an A+ location.