DEVELOPER ALERT! Rare LAR3-zoned lot on Laurel Canyon Blvd in the heart of North Hollywood. This approx. 7,500 sq ft lot (approx. 60 x 125) is surrounded by newer multi-unit buildings and offers outstanding potential for a multi-unit development, small-lot project, or an income property with ADUs. A long gated driveway provides easy access and abundant parking, and the deep, open lot gives you room to build. The existing 2-bedroom, 1-bath home (approx. 940 sq ft) can generate income while you plan your project and features tile flooring, ceiling fans, a spacious kitchen with wood cabinetry and stone counters, a dining area, a bright living room, and a large covered patio. Prime location about a mile from NoHo West shopping, dining, and entertainment, with quick access to the 170 Freeway, Metro transit, Valley Plaza Park, and Erwin Park. Buyer to verify zoning, permitted uses, density, and all information with the City of Los Angeles.