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543 N VIRGIL AVE | OFFERING MEMORANDUM
The 2-4 Unit Specialists are pleased to present 543 N Virgil, a 7,004 LAR3 lot
(in a TIER 3 Transit Oriented Community + OPPORTUNITY ZONE!) that can be
delivered RTI for a fourplex! Located in the heart of Virgil Village 4 minutes
away from Silver Lake’s trendy Sunset Junction, 543 N Virgil provides
developers an unbeatable opportunity to build in a prime rental market.
New construction 2 bedrooms in this area go for the high $2,000’s-$3,000’s
and 3 bedrooms rent in the $3,000’s-$4,000’s. Additionally, the nearest new
construction fourplex that sold went for $3,100,000 (0.4 miles away), an
excellent sign for a future fourplex on this lot!
The plans this property can be delivered with include four units, two 3
bedroom, 3 bathroom side-by-side townhome style in the front, one single
story 3 bedroom, 2 bathroom in the upstairs back, and one single story 2
bedroom, 1 bathroom in the downstairs back.
Additionally, there is the option to pursue a larger project and take
advantage of the Tier 3 TOC (density bonus for Tier 3 TOC is 70%, so there is
possibility to build up to 14 units. This is not a guarantee– please do your
own due diligence).
OFFERING SUMMARY
543 N VIRGIL AVE | OFFERING MEMORANDUM
PROPERTY OVERVIEW
THE LAND: Address: 543 N Virgil Ave, Hollywood, CA 90004
APN: 5539-030-003
Zoning: LAR3 (1 unit per 800 SF of land)
# Developable Units: 14– Seller & agent do not guarantee, buyer to do their own due diligence
Lot Size (SF): 7,004
Current Building on Lot: Nothing– Empty Lot
Opportunity Zone: Yes
THE OFFERING: List Price: $1,150,000
Price per Lot SF: $164.19
THE RTI PLANS: Unit 1 (Front Right Unit): 3b/3b | 1,256 SF | 2-story | Projected Rent $3,500-$3,650
Unit 2 (Front Left Unit): 3b/3b | 1,256 SF | 2-story | Projected Rent $3,500-$3,650
Unit 3: (Back Upstairs Unit): 3b/2b | 1,296 SF | 1-story | Projected Rent $3,500-$3,650
Unit 4: (Back Downstairs Unit): 2b/1b | 867 SF | 1-story | Projected Rent $2,750-$2,950
Parking: 2 Garage Spots in Back Building, 5 Exterior Spots, and Bike Parking
Total Square Footage: 4,674 SF
LOCATION HIGHLIGHTS LOCATION HIGHLIGHTS
• The nearest new construction fourplex (0.4 miles away) went for $3,100,000, a great sign this will be a very profitable new
construction project!
• Located 4 minutes from Sunset Junction, home to Silver Lake’s trendiest restaurants, shops, cafes, businesses and nightlife!
• This property is located in ultra trendy Virgil Village, a neighborhood that attracts high paying hipster types.
• New construction 2 bedrooms in this area go for the high $2,000’s-$3,000’s and 3 bedrooms rent in the $3,000’s-$4,000’s.
• Moments from Silver Lake, Hollywood, Echo Park, Korea Town, etc.
• Hop on the nearby 101 freeway and get just about anywhere!
• “Very Walkable” on Walkscore.com
543 N VIRGIL AVE | OFFERING MEMORANDUM
LOCATION HIGHLIGHTS MAP
Subject Property
Nearby Attractions
543 N VIRGIL AVE | OFFERING MEMORANDUM
4 UNIT RENDERINGS
543 N VIRGIL AVE | OFFERING MEMORANDUM
PLOT PLAN
543 N VIRGIL AVE | OFFERING MEMORANDUM
FRONT BUILDING | 3b/3b 2-story Uni ts
543 N VIRGIL AVE | OFFERING MEMORANDUM
BACK BUILDING | 3b/2b and 2b/1b Units
543 N VIRGIL AVE | OFFERING MEMORANDUM
EXTERIOR
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