Rom Investments Targets 33 Unit Apartment Project Near US 101 in Hollywood

Key Points

• Rom Investments plans a six-story, 33-unit multifamily building at 1845 N. Taft Ave.
• Four units will be set aside for extremely low-income tenants.
• Developer is seeking incentives through Los Angeles’ Citywide Housing Incentive Program.

What Is Being Built

Rom Investments has filed plans to redevelop a recently demolished corner site at 1845 N. Taft Ave., just north of the US 101 Freeway in Hollywood. The proposal calls for a six-story apartment building with 33 units made up of one, two, and three-bedroom layouts. Plans include 48 parking spaces, even though parking is not required under current zoning rules. The project replaces older low-rise structures and continues Hollywood’s steady infill redevelopment trend.

Incentives for Density

To make the numbers work, the developer is requesting development incentives through the Citywide Housing Incentive Program. That program allows additional height or floor area in exchange for affordable housing. In this case, four units would be reserved for extremely low-income households. That represents roughly 12 percent of the building. For landlords and investors, this model has become standard across Los Angeles. Developers trade a modest affordability requirement for added scale that improves project feasibility.

Why Hollywood Still Draws Capital

Hollywood remains one of LA’s most active multifamily pockets, especially for mid-size infill projects. The area benefits from strong renter demand, access to transit, proximity to employment centers, and a limited for sale housing supply. Even with slower rent growth across the region, well-located infill sites near major corridors like the 101 continue to attract development. At 33 units, this is not a skyline-changing project. It is a steady density that adds supply without overwhelming the block.

Investor Takeaway

Los Angeles continues to lean on incentive-driven housing programs to unlock new construction. Projects like this show that smaller developers are still moving forward when zoning flexibility offsets rising construction and financing costs. For multifamily investors tracking Hollywood, the signal is clear. Infill housing near transit and freeway access remains a long-term bet, especially when developers can leverage city incentives to enhance returns. Hollywood’s apartment pipeline is not explosive. It is incremental and targeted, which supports long-term rental fundamentals.