1415 Mariposa

Prime Redevelopment Opportunity – High-Density SB 79 Site with Approved ADU in Hollywood Outstanding opportunity to acquire a 4-unit apartment property positioned for significant redevelopment upside in one of Hollywood’s most desirable and transit-oriented residential neighborhoods. The existing improvements include two 2-bedroom / 2-bath units and two 1-bedroom / 1-bath units, all featuring formal living rooms, formal dining rooms, oversized kitchens, and private balconies. The property is located within a high-density residential zone qualifying for enhanced development incentives under California SB 79, allowing substantial residential density increases beyond base zoning standards. When paired with SB 35 ministerial approval pathways and SB 330 development streamlining and vested rights protections, this site offers a rare opportunity for by-right multifamily expansion with reduced entitlement risk and accelerated timelines. Approved plans for an additional 2-bedroom ADU are already in place, providing immediate near-term income upside while longer-term redevelopment options are explored. The zoning and statutory framework make this property ideal for unit count expansion, vertical addition, or full redevelopment, subject to buyer verification. Ideally situated walking distance to Los Feliz Village, acclaimed restaurants, boutique retail, and everyday amenities. The property is also minutes from Kaiser Permanente, Children’s Hospital Los Angeles, and Hollywood Presbyterian Medical Center, and conveniently close to major studios and employment centers throughout Hollywood and Los Angeles. A rare Hollywood redevelopment asset offering existing cash flow, approved ADU plans, and exceptional density bonus and streamlining advantages under SB 79, SB 35, and SB 330.