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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.
Property Type(s):
Single Family
| Last Updated | 6/11/2026 | Year Built | 1914 |
|---|---|---|---|
| Community | C17 - Mid-Wilshire | County | Los Angeles |
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 |
Location
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Listed with Keller Williams Beverly Hills
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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