Friday, August 28, 2015 / 5 Comments
|Image courtesy Bing Maps|
|Top image courtesy Jennifer Getz. Bottom image courtesy LA Daily News.|
|Image courtesy Google Maps|
|Jean Lathrop's child in front of her property at 5303 Hermitage ca. 1950s. Image courtesy HCM Application|
KCET.com also wrote an excellent article describing the Lathrop property, latest development, and destruction of the Marilyn Monroe home. There is also a CityWatch LA article questioning Mayor Garcetti's motives for demolition. You can also read more at the activist site, http://www.savevalleyvillage.com/home The location details are below:
- 12302 Weddington St. Built in 1931 on 10,540 sqft lot with 4 beds/2 baths on 2,182 sqft (2 units). Last sold by Christopher Barrett to UB Valley Village LLC on May 15, 2015 for $1,125,000.
- 12301 Weddington St. (also known as 5303 Hermitage & 5305 Hermitage). Built in 1934 on 15,930 sqft lot with 2 Beds/1 Bath on 1,738 sqft. Currently owned by the Edwards Living Trust.
- 5261 Hermitage Ave (also known as 5263 Hermitage Ave). Built in 1935 on 7,804 sqft lot with 5 Beds/5 Baths on 5,103 sqft (3 units). Last sold by Barry and Dinah Gres to UB Valley Village LLC on May 15, 2015.
Additionally, another apartment project two houses north totaling 56 units is in the works at the following location:
- 5323 Hermitage St. Built in 1957 on a 8,012 sqft lot with 10 Beds/7 Baths on 4,905 sqft (6 units). Last sold by The Thomas A Dicandia and Ann R Dicandia Revocable Living Trust to Fourth Street Venture LP on January 6, 2015 for $1,450,000.
- 5333 Hermitage St. Built in 1954 on a 0.37 acre lot with 13 Beds/11 Baths on 6,705 sqft (9 units). Last sold by Parnes Family Trust to Fourth Street Venture LP for $1.5 million on June 29, 2012.
This project is being shopped around by a broker that can be viewed on Loopnet.com with the following listing description and a brochure at the bottom:
**Can be bought with 5323 Hermitage, adjacent property for development of up to 56 Units.
Marcus & Millichap, as the exclusive listing agent, is pleased to present a rare development opportunity to purchase 3 contiguous parcels totaling 24,036 square feet of land with alley in the back in the Valley Village submarket of the San Fernando Valley area. The subject property is zoned LAR3 which allows the construction of up to 43 apartment units on the site (this amount includes a 35% density bonus).* Existing improvements on the site consist of 18 apartment units with current income during the planning and entitlement phase of development.
Valley Village is one of the most desirable neighborhoods within the Los Angeles metropolitan area nestled among the desirable neighborhoods of Studio City, Sherman Oaks, and North Hollywood markets. The property is situated on a tree-lined, multi-family residential neighborhood within walking distance to the Laurel Canyon MTA Orange Line Station. Commuter access to this site is offered through the 101, 134 and 170 Freeways. The subject location is highlighted by a multitude of dining, shopping, and entertainment facilities while offering easy access to employment centers in Hollywood, Downtown, and West Los Angeles.
The subject development will be among the more unique developments of the area due to the impressive size and location of the project offering competitive advantage in occupancy rates.
You can read more SFV Architecture and R.E. here.