827 N McCadden Pl, Los Angeles, CA 90038
INVESTMENT OVERVIEW
This 7,250 SF RD1.5-1XL zoned lot will be delivered with Ready-to-Issue (RTI) permits for a 5-story, 50-unit multifamily development in the heart of Hollywood, one of Los Angeles’ most dynamic and supply-constrained rental markets. The approved plans feature 49 one-bedroom units and 1 two-bedroom unit, designed to meet the ongoing demand for efficient, high-quality housing in an amenity-rich urban environment.
Located in the Hollywood Media District, 827 N McCadden Pl offers exceptional access to employment hubs, production studios, entertainment venues, dining, and public transit. The site is within walking distance of Santa Monica Blvd, Highland Ave, and Melrose Ave, and benefits from its location within a TOC Tier 3 zone, providing valuable density and parking incentives.
With RTI permits secured, the project is shovel-ready, enabling developers to move directly into construction—saving valuable time and eliminating entitlement risk. The location, unit mix, and zoning make this project ideal for a range of strategies including market-rate lease-up, mixed-income delivery, or use of HACLA or voucher-based programs.
As Los Angeles continues to push infill development in job-rich and transit-connected neighborhoods, 827 N McCadden Pl represents a rare, ready-to-build opportunity in one of the city’s strongest and most resilient rental submarkets.
827 N McCadden Pl.
Project Overview
| Project Information | |
|---|---|
| Gross Building Area | 24,068 SF |
| Build-able Units | 50 Unit 49 (1-Bedroom) | 1 (STUDIOS) |
| Stories | 5 |
| Net Rentable Square Footage | 21,773 SF |
| Average Unit Size | 400 SF |
| Lot Size | 7,250.0 SF |
| Parking | No Parking Required |
| Legal Description | |
| Site Address | 827 N McCadden Pl, Los Angeles, CA 90038 |
| Zoning | [Q]RD1.5-1XL | Tier: 3 |
| APN | 5524004007 |
| Existing Condition: | Office Building |
827 N McCadden Pl.
Price Analysis
Gross building area
24,068 SF
Build-able Units
50
STORIES
5 FLOORS
LOT SIZE
7,250 SF
Net Rentable
21,773 SF
| COST SUMMARY | |
|---|---|
| Acquisition Costs: | $ 3,250,000.00 |
| Operating Expenses at 5% of Acquisition | $162,500.00 |
| Construction Costs: | $5,415,300.00 |
| Total Development Costs | $ 8,827,800.00 |
| Plan #1 : DISPOSITION | ||
|---|---|---|
| Projected Property Value: | $22,224,000.00 | |
| Disposition Cap Rate: | 6.50% | |
| Sales Proceeds at Disposition: | ||
| Projected Sale Value: | $ 22,224,000.00 | |
| Broker Commission: at 6.0% of Sale Price | $ 1,333,440.00 | |
| Closing Cost: at 0.5% of Sale Price | $ 111,120.00 | |
| Net Sale Proceed | $ 20,779,440.00 | |
| less: Project Cost | $ 8,827,800.00 | |
| Net Profit | $ 11,951,640.00 | |
| ROI | 135.39% | |
| PLAN #2: HOLD | |
|---|---|
| OPERATING PERFORMANCE | |
| Scheduled Lease Revenue | $ 36,300.00 |
| less: Manager Unit | $ 28,740.00 |
| less: Vacancies & Bad Debt at 3.00 % | $ 1,089.00 |
| less: Operating Expenses | $ 7,260.00 |
| Total | $ 37,089.00 |
| Residential Cash Flow | $ 1,444,560.00 |
| Net Operating Income | $ 1,444,560.00 |
| Cap Rate on Total Cost | 16.36% |
827 N McCadden Pl.
Project Plans
Hollywood Media District
Neighborhood
827 N McCadden Pl is located in the Hollywood Media District, one of Los Angeles’ most active employment and entertainment hubs. The property is positioned just south of Santa Monica Boulevard and west of Highland Avenue, providing immediate access to major corridors including US-101, Sunset Boulevard, and Hollywood Boulevard. The site benefits from proximity to Metro B (Red) Line stations, multiple bus routes, and regional transit connections, supporting strong commuter access to Downtown Los Angeles, Hollywood, Koreatown, and the broader LA basin.
The Hollywood Media District attracts a dense, renter-oriented population comprised primarily of working professionals, creatives, and small households. Housing demand is driven by proximity to major employers in media, entertainment, technology, hospitality, and creative services, as well as access to transit and urban amenities. The area supports consistent rental absorption and long-term demand.
Housing in the Hollywood Media District is highly supply-constrained, with limited entitled development opportunities and strong competition for well-located rental product. Existing housing stock is predominantly multifamily, with historically low vacancy and strong rent performance. New, centrally located projects are positioned to benefit from sustained demand and limited new supply.
The neighborhood offers a high-amenity, urban lifestyle, with immediate access to dining, retail, entertainment, and cultural destinations along Santa Monica Boulevard, Sunset Boulevard, and Hollywood Boulevard. Residents benefit from walkability to neighborhood services, entertainment venues, and employment centers while maintaining access to transit and regional mobility.
The area is served by the Los Angeles Unified School District (LAUSD) and is located near a mix of public, charter, and private school options. The property also benefits from proximity to higher-education institutions and vocational programs across Hollywood, Downtown Los Angeles, and adjacent submarkets, supporting continued rental demand.
Residents enjoy immediate access to grocery stores, fitness centers, healthcare services, and neighborhood retail, as well as proximity to major entertainment venues, studios, and cultural institutions throughout Hollywood. The location provides short travel times to employment hubs, transit centers, and regional amenities across Central Los Angeles.
