Incredible Development Opportunity to build!!! This property will be delivered with RTI approved plans to build a new 30 unit apartment building on 6 stories and basement. The existing four-plex holds month to month tenants and the property can be vacated in approx. 3 months. Situated in the OPPORTUNITY ZONE, this property is perfectly located in the thriving revitalized area of Macarthur Park/Westlake, just blocks away from Korea Town and Downtown, where currently there are a number of new apartment developments just completed. This property, sits on an expansive, R4 zoned lot and it's also located in Trans Oriented Community (TOC) Tier 3 area which allows the development of a brand new 30 units apartment building, 6 stories and 1 basement with a roof top using the 70% Bonus Density. Only 3 affordable units are required of the 30 proposed units. Motivated seller! All information described here, is for the future construction development and not for the current 4plex.
|
DAYS ON MARKET
|
3
|
LAST UPDATED
|
1/8/2025
|
|
YEAR BUILT
|
2025
|
COMMUNITY
|
Koreatown
|
|
GARAGE SPACES
|
27.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
| AREA |
Koreatown |
| GARAGE |
Yes |
| HOA DUES |
0 |
| LOT |
7589 sq ft |
| LOT DESCRIPTION |
Near Public Transit |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
6 |
| WATER |
Public |
| ZONING |
LAR4 |
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Listed with Royal Estate Properties
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 1/11/25 6:54 AM PST 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
This IDX solution is (c) Diverse Solutions 2025.
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