Description
1110-1116 N Gower Street is comprised of approximately 13,000 square feet of commercial/residential landzoned CM-1VL and R3-1. The property has two unoccupied structures that are approximately 4,173 SF,and will be delivered vacant at the close of escrow. The project is one parcel north of the northeast cornerof Santa Monica Boulevard and Gower Street which is a signalized intersection. The CM zoned portionof the property has a base FAR of 1.5 and R3 zoned portion of the property has a based FAR of 3, andboth parcel have a base unit density of R3 (1 unit per 800 SF of land). However, with the propertiesbeing located in a Tier 2 area of the Transit Oriented Community program ("TOC"), there is a 60%bonus density across all the parcels, and an increase to 3.25 FAR on the CM zoned parcel and 4.35FAR on the R3 zoned parcel.The Property is located in the Eastern portion of Hollywood, an area that is rapidly gentrifying andhome to a large number of tenants in the Entertainment Industry. This is an area that has seenrapid growth and development due to the need for housing and the growth and expansion ofseveral office tenants, particularly Netflix, in the immediate area. The density, developmentand growth has been moving from west to east, but the rapid expansion of Netflix also iscausing developments in the areas to the north of the Opportunity.
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School Ratings & Info
Description
1110-1116 N Gower Street is comprised of approximately 13,000 square feet of commercial/residential landzoned CM-1VL and R3-1. The property has two unoccupied structures that are approximately 4,173 SF,and will be delivered vacant at the close of escrow. The project is one parcel north of the northeast cornerof Santa Monica Boulevard and Gower Street which is a signalized intersection. The CM zoned portionof the property has a base FAR of 1.5 and R3 zoned portion of the property has a based FAR of 3, andboth parcel have a base unit density of R3 (1 unit per 800 SF of land). However, with the propertiesbeing located in a Tier 2 area of the Transit Oriented Community program ("TOC"), there is a 60%bonus density across all the parcels, and an increase to 3.25 FAR on the CM zoned parcel and 4.35FAR on the R3 zoned parcel.The Property is located in the Eastern portion of Hollywood, an area that is rapidly gentrifying andhome to a large number of tenants in the Entertainment Industry. This is an area that has seenrapid growth and development due to the need for housing and the growth and expansion ofseveral office tenants, particularly Netflix, in the immediate area. The density, developmentand growth has been moving from west to east, but the rapid expansion of Netflix also iscausing developments in the areas to the north of the Opportunity.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2023-01-28T07:43:09.18. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.