Roseann Oesterreich, CRS, GRI
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REDUCED! We are proud to present for sale a development opportunity in Prime Koreatown - in the middle of everything! This property was Ellis'd in 2018 and Demolished in 2021and the property has an issued SB8 ED1 RUD! With 7,790 SF of R4-1 Tier 3 TOC vacant land, this property qualifies for SAFMR Tier 1! Utilize ED1 for a 65+/- Unit 5 Story Project in one of the most competitive rental markets in the country! Seller has Conceptual Plans for a project. Walking distance to pretty much all, including the Metro Subway Station waiting for the westward expansion to Westwood, or take the Subway to Hollywood, Downtown, or connect to practically anywhere in the Greater Los Angeles area! Walk to Vons, Ralphs, fine and casual dining, happening nightlife, entertainment, public transportationthis neighborhood is perfect for new construction with little to no parking!
Introducing an exceptional opportunity, RTI, Ready-to-Issue 19-Unit non-rent-controlled development in the heart of Koreatown. Strategically positioned in close proximity to the Wilshire/Western Metro Subway Station, this development is surrounded by the vibrant neighborhoods of Koreatown, Silver Lake, Hollywood, and Downtown. This exquisitely designed 5-story construction project, inclusive of a one-level basement parking garage, is a testament to thoughtful planning and contemporary aesthetics. Comprising seventeen 2-bedroom & 2-bathroom units and two 3-bedroom & 2-bathroom units, the development offers a harmonious blend of functionality and sophistication. With a generous rentable/living area spanning approximately 15,400 square feet, the apartments vary in size from 728 to 1,110 square feet, providing a diverse range of living options to cater to various preferences. The building also boasts 22 parking spaces, ensuring convenience for residents. Moreover, this project is committed to fostering inclusivity by incorporating 1 Extremely Low-Income unit and 2 Very Low-Income units, contributing to the community's diverse housing needs. Embrace the prospect of investing in a development that not only exemplifies architectural excellence but also aligns with a vision of creating a socially responsible living space in one of Los Angeles' most dynamic neighborhoods.
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