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The subject site at 521-525 S. Carondelet St. is a vacant rectangular 2-lot development site located in the Mid-Wilshire/Lafayette Park area on the eastern edge of Koreatown. Zoning designation is LAR4-1 with a Tier 3 TOC status for increased density, FAR and reduced parking. The immediate area is one of the most investment rich locations in all of Los Angeles with new developments like the 644-unit Kurve on Wilshire (completed by Greystar in 2021) and historic trophy apartments like the Wilshire Royale, the Asbury, the Bryson and The Town House dotting the skyline. The iconic Art Deco Bullocks Wilshire historic-cultural monument is just a few blocks away from 521 S. Carondelet, purchased and repurposed by Southwestern Law School in 1994. CoStar estimates that multifamily vacancy in Koreatown is currently elevated, reflecting the delivery of nearly 3,850 new units over the past 24 months. This recent supply influx has temporarily increased availability; however, the submarket rebounded quickly after the pandemic, with rents climbing consistently since early 2021. Koreatown remains more affordable than surrounding areas such as Hollywood, Hancock Park, and Silver Lake and benefits from Mid-Wilshire's highly walkable environment and strong dining and nightlife appeal.
Property Type(s):
Lot/Land/Acreage
| Last Updated | 2/2/2026 | Year Built | 0 |
|---|---|---|---|
| Community | C42 - Downtown L.A. | County | Los Angeles |
Additional Details
| AREA | C42 - Downtown L.A. |
|---|---|
| LOT | 0.2715 acre(s) |
| LOT DIMENSIONS | 11825 |
| VIEW DESCRIPTION | None |
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Listed with CB Richard Ellis, Inc.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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