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$ 1,295,000
Est. payment | /mo
7,013 Sqft Lot
$ 1,295,000
Est. payment | /mo
7,013 Sqft Lot
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL26639841
HOA Y/N No
Lot Size 7,013 Sqft
Acres 0.16
Property Sub-Type Unimproved Land
Property Description
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
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5080012019
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Listed by Elijah Shin • Dream Realty & Investments Inc
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