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$1,375,000
Est. payment /mo
7,501 Sqft Lot
UPDATED:
01/17/2025 07:32 PM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25477901
HOA Y/N No
Lot Size 7,501 Sqft
Property Description
Prime development opportunity located in Korea Town within Qualified Opportunity Zone. Vacant 7,500sf flat lot, zoned R3-1, Tier 3 TOC, presents an amazing opportunity to develop up to 59-units affordable housing project with NO parking requirements or up to 30 units (mostly market rate units) under the new CHIP program. The land comes with an approved set of plans with ready to issue permits (RTI) to build a 15-unit apartment building over a single level subterranean garage. This site is located within a few minutes walking distance to Vermont/Beverly Metro Station (B-Line) and is otherwise centrally positioned within a highly densely populated neighborhood with high demand for rental units.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR3
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
New Construction No
Others
Senior Community No
Tax ID 5518027003
Special Listing Condition Standard
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Listed by Vlad Gold • Gold Group Realty, Inc.