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Shovel-Ready 46-Unit RTI Development in Prime Koreatown: Incredible opportunity to develop a fully RTI-approved 46-unit 100% affordable housing project in the heart of Koreatown—one of the most dynamic and densely populated rental markets in Los Angeles. The 9,024 SF R3-zoned lot is approved for 40 one-bedroom units and 6 studios, totaling approx. 15,703 SF of rentable space and 20,510 SF of gross building area. Projected monthly rental income is approx. $109,072, based on current HACLA Section 8 rents—offering immediate and reliable long-term cash flow with significant upside. Located in the vibrant 90004 ZIP code, this transit-rich neighborhood is surrounded by major employment hubs (Downtown LA, Hollywood, Wilshire Center), Metro stations, and an endless mix of restaurants, shopping, and services. High walkability, strong tenant demand, and limited affordable housing supply make this a premier opportunity for developers and investors looking to secure a strong return in one of LA’s hottest submarkets.
Property Type(s):
Residential Income
| Last Updated | 4/29/2025 | Year Built | 1921 |
|---|---|---|---|
| Community | Koreatown | County | Los Angeles |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | Koreatown |
| LOT | 9024 sq ft |
| LOT DESCRIPTION | Value In Land |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 4 |
| WATER | Public |
| ZONING | LAR3 |
Location
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Listed with Sync Brokerage
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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