Brick+Work

125 Unit Potential in Koreatown

125 Unit Potential in Koreatown

APN:

$

125
Max Unit
28,916 sq. ft.
Lot Size
Tier 3
TOC
3
Lots
Existing Conditions
Floor Area 25,252 sq. ft.
Units 0
Year Constructed 1955
Assessed Improvement Value $1,616,085
Assessed Land Value $4,309,565
Development Potential (By-Right)
Maximum FAR 1.5:1
Maximum Height
Feet

None

Stories

None

Buildings used entirely for residential uses (and ground floor commercial in RAS zones) are only limited in height, not stories.

Minimum Setbacks
Front

0 ft.

Side

5 ft.

add 1 ft. of side setback for each story over 2, not to exceed 16 ft.; side setbacks only required for residential uses at lowest story

Back

15 ft.

Add 1 ft. of back setback for each story over 3, not to exceed 20 ft.; back setbacks only required for residential uses at lowest story

Max Buildable Area, Footprint 24,705 sq. ft.
Max Buildable Area, Envelope 37,058 sq. ft.
Max Dwelling Units 72
Affordable Units Required None
Parking Required 1 space per unit with less than 3 habitable rooms 1.5 spaces per unit with 3 habitable rooms 2 spaces per unit with more than 3 habitable rooms 1 space per guest room (first 30)
Required Bicycle Parking
Long Term 1 per dwelling unit or guest room
Short Term 1 per 10 dwelling unit or guest room
Transitional Height Limitations Portions of Buildings in C or M zones with certain distances of RW1 or more restrictive zones shall not exceed the following limits: Distance (ft.) Height (ft.) 0-49 25 50-99 33 100-199 61
Required Open Space 100 sq ft per unit with less than 3 habitable rooms 125 sq ft per unit with 3 habitable rooms 175 sq ft per unit with more than 3 habitable rooms
Other Development Notes
Development Potential (with TOC or DB)
Maximum FAR 3.75:1
Maximum Height
Feet

None

Projects located in a zone where the maximum height is 45 ft. or less, or located within a Specific Plan that limits height, height increases over 11 ft. must be stepped-back at least 15 ft. from the exterior face of the ground floor building located at any street frontage.

Stories

None

Minimum Setbacks
Front

0 ft.

Side

5 ft.

add 1 ft. of side setback for each story over 2, not to exceed 16 ft.; side setbacks only required for residential uses at lowest story

Back

5 ft.

Add 1 ft. of back setback for each story over 3, not to exceed 20 ft.; back setbacks only required for residential uses at lowest story

Max Buildable Area, Footprint 26,535 sq. ft.
Max Buildable Area, Envelope 99,506 sq. ft.
Max Dwelling Units 125
Affordable Units Required at least 10% for Extremely Low Income residents, or 14% for Very Low Income residents, or 23% for Low Income Residents
Parking Required less than .5 spaces per unit
Required Bicycle Parking
Long Term 1 per dwelling unit or guest room
Short Term 1 per 10 dwelling units or guest rooms
Transitional Height Limitations When bordering specific plan, overlay zone, or RW1 or more restrictive zone, the building height limit shall be stepped-back at a 45 degree angle as measured from a horizontal plane originating 25 ft. above grade at the property line of the adjoining lot.
Required Open Space Up to 25% decrease in open space required by-right.
Other Development Notes
Jurisdictional
Legal Description Lots 14-16 and part of Lot 13, TR 2189
Land Use General Commercial
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council Wilshire Center-Koreatown
Council District 10
Councilmember Herb J. Wesson, Jr.
Red Flags
Development Plans on this property will be subject to review by the Wilshire Center/Koreatown CRA. This could also limit the utilization of TOC incentives.
BRICK+WORK Analyzer
Calculator
Please Enter Land Cost.
Please Enter Average Rents in Area.
Ask Administrator to enter the required values for the calculation of Financial Analyser.
Particulars By-Right TOC or DB
Total Buildable
Net Buildable
Average Construction Cost
Total Construction Budget
Total Soft Costs
Total Development Budget
Gross Annual Rents
Expenses (25%)
NOI
Valuation
Equity After Completion
Equity Multiple
IRR

Property Report Disclaimer

All data are obtained from government sources. No attempt has been made to verify the data’s accuracy.

This report is for informational purposes only. Do not rely on this report to support real estate or investment decisions. The only authoritative source for the information in this report is the government agencies from which the data was obtained.

By publishing this property, you represent and warrant that you have obtained the authorization from the property owner to market this property AND to take actions on behalf of the property owner.