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Exceptional opportunity in the heart of Koreatown! Located within a designated Opportunity Zone and benefiting from R4-2 zoning with TOC Tier 3 incentives, 2961 W 8th Street offers investors and developers significant upside in one of Los Angeles' most active rental and redevelopment markets. The property features an approximately 3,000 SF, 6-bedroom, 2-bathroom residence situated on a 5,990 SF lot. The existing home offers significant square footage and multiple possibilities for renovation, repositioning, multi-generational living, rental income, or interim cash flow while planning future development. A major highlight of the offering is the inclusion of RTI (Ready-to-Issue) plans for a 100% affordable 44-unit apartment development consisting of 43 one-bedroom units and 1 studio unit. Offered at approximately $28,500 per approved unit, the property presents a rare opportunity for developers to immediately move forward with a fully approved project in one of Los Angeles' strongest rental markets. Alternatively, buyers may capitalize on the existing residence through renovation, rental income, ADU expansion potential (buyer to verify), or other value-add redevelopment strategies. Ideally located on the highly visible 8th Street corridor between Vermont Avenue and Westmoreland Avenue, the property is just blocks from Wilshire/Vermont Metro Station, Zion Market, and countless dining, retail, and entertainment options. With a Walk Score of 96 and convenient access to Downtown LA, USC, and major employment centers, the location is second to none. Delivered VACANT at the close of escrow and sold AS-IS. Buyer to verify all zoning, development potential, RTI approvals, ADU potential, and property information.
| DAYS ON MARKET | 3 | LAST UPDATED | 6/11/2026 |
|---|---|---|---|
| YEAR BUILT | 1914 | COMMUNITY | C17 - Mid-Wilshire |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Single Family |
| ADDITIONAL DETAILS | |
| AREA | C17 - Mid-Wilshire |
|---|---|
| LOT | 5990 sq ft |
| LOT DIMENSIONS | 5990 |
| PARKING | Driveway |
| POOL DESCRIPTION | None |
| STORIES | 2 |
| STYLE | Craftsman |
| VIEW DESCRIPTION | None |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 6/13/26 7:54 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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