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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.
Property Type(s):
Residential Income
| Last Updated | 1/8/2025 | Year Built | 2025 |
|---|---|---|---|
| Community | Koreatown | Garage Spaces | 27.0 |
| County | Los Angeles |
Additional Details
| 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 |
Location
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Listed with Royal Estate Properties
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.
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