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Shovel ready RTI for 17-unit development opportunity in a prime Los Angeles location of Koreatown. Gross rents can exceed 35k monthly. The property is currently improved with a fully vacant duplex and comes with approved plans for a (5) five-story, approximately 12,092-square-foot multi-unit residential building designed for efficiency, cost control, and long-term value. The project has been engineered to minimize construction costs without compromising quality. Features include on-grade parking to avoid expensive subterranean excavation, an exterior egress balcony that reduces interior corridor and wall requirements, and a wood-frame staircase in lieu of a steel system. Underground electrical service from the power pole eliminates the need for an on-site transformer, further streamlining development.Unlike many Los Angeles projects, this development requires only two affordable (ELI )Extremely low Income units, making it a rare and attractive option in today's market. The design also includes premium elements such as two residences with double-height ceilings and loft spaces, creating a modern, open-concept living experience. Additional highlights include six on-site parking spaces and a rooftop area. With RTI approval in hand and a cost-efficient, well-designed plan already in place, this project offers a clear and predictable path to development in one of LA's most competitive markets.
Property Type(s):
Lot/Land/Acreage
| Last Updated | 3/3/2026 | Year Built | 0 |
|---|---|---|---|
| Community | C17 - Mid-Wilshire | County | Los Angeles |
Price History
| Prior to Mar 3, '26 | $1,499,000 |
|---|---|
| Mar 3, '26 - Today | $1,395,000 |
Additional Details
| AREA | C17 - Mid-Wilshire |
|---|---|
| LOT | 7013 sq ft |
| LOT DIMENSIONS | 7013 |
| VIEW DESCRIPTION | None |
Location
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Listed with Dream Realty & Investments Inc
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