Hollywood Development Site | Seven-Month Escrow, Three Financing Sources
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The LAAA Team of Marcus & Millichap is proud to announce the successful closing of 1431 N Vista Street, a Hollywood infill development site directly bordering West Hollywood, for $1,600,000.
The property is a 6,528 square foot R3-1 lot just south of Sunset Boulevard in Los Angeles. We brought it to market as raw, unentitled redevelopment land with a flexible development story: roughly eight units by right, up to 18 units under standard density bonuses, full parking relief under AB 2097, and additional upside for an affordable-housing developer using the city's Executive Directive 1 pathway.
We listed the site at $1,700,000 in October 2025 and marketed the up-to-18-unit, mixed-income scenario because it reached the broadest buyer pool. The buyer who closed is an affordable-housing developer pursuing a denser, roughly 30-unit fully affordable project under ED1. The same site supports very different outcomes depending on the development program, and that difference is what made the buyer profile matter.
Getting from contract to closing took seven months. The buyer's acquisition financing proved difficult in a tight private-lending market, and the deal cycled through three financing sources before it funded, delaying closing by an additional month. We stayed on it daily and held every party to the timeline until the transaction recorded.
The sale recorded on June 16, 2026 at $1,600,000, or $88,889 per buildable unit and $245 per land square foot. Development land closings often come down to financing, timing, and execution. This one required persistence on every side and daily brokerage execution to keep a difficult escrow moving until it closed.
