Thank you for contacting us.

Wilshire/Koreatown 7 Lot Combined, 160 Unit Potential with TOC Tier 3

Wilshire/Koreatown 7 Lot Combined, 160 Unit Potential with TOC Tier 3

APN: Several

$

R4-1VL
Zone/District
160
Max Unit
37,294 sq. ft.
Lot Size
Tier 3
TOC
7
Lots
Existing Conditions
Floor Area 15,929 sq. ft. (combined)
Units 25 (combined)
Year Constructed Several
Assessed Improvement Value $1,101,668 (combined)
Assessed Land Value $3,083,538 (combined)
Development Potential (By-Right)
Maximum FAR 3:1
Maximum Height
Feet

45 ft.

Stories

None

Minimum Setbacks
Front

15 ft.

Side

5 ft.

add 1 foot of side setback for each story over 2, not to exceed 16 ft.

Back

15 ft.

add 1 foot of back setback for each story over 3, not to exceed 20 ft.

Max Buildable Area, Footprint 30,750 sq. ft.
Max Buildable Area, Envelope 111,882 sq. ft.
Max Dwelling Units 93
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 1.5 dwelling unit or guest room
Short Term 1 per 15 dwelling unit or guest room
Transitional Height Limitations None
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 Minimum 200 sq. ft. per guest room
Development Potential (with TOC or DB)
Maximum FAR 4.5:1
Maximum Height
Feet

67 ft.

Stories

5

Minimum Setbacks
Front

15 ft.

Side

3.5 ft.

add 1 foot of side setback for each story over 2, not to exceed 16 ft.

Back

10.5 ft.

add 1 foot of back setback for each story over 3, not to exceed 20 ft.

Max Buildable Area, Footprint 32,064 sq. ft.
Max Buildable Area, Envelope 167,823 sq. ft.
Max Dwelling Units 160
Affordable Units Required at least 10% Extremely Low Income, or 14% Very Low Income, or 23% Low Income
Parking Required Less than .5 space per unit
Required Bicycle Parking
Long Term 1 per 2 dwelling units or guest rooms
Short Term 1 per 20 dwelling units or guest rooms
Transitional Height Limitations None
Required Open Space Up to 25% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description Lots 14-19, Block 28, Electric Railway Homestead Association Tract
Land Use High Medium Residential
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council Pico Union
Council District 1
Councilmember Gilbert Cedillo
Restrictions
Rent Stabilization Ordinance Yes
Community Design Overlay No
Historic Preservation Overlay No
Specific Plan No
Q/T Conditions No
D Limitations No
Coastal Zone No
Community Redevelopment Agency No
Hillside Area No
Baseline Mansionization Ordinance No
Interim Control Ordinance No
River Improvement Overlay No
Community Plan Implementation Overlay No
Opportunity Zone Yes
Other
Red Flags
Properties subject to the Rent Stabilization Ordinance (RSO) must replace existing affordable units at a rate of 1 to 1 or 20% of new proposed units, whichever is greater.
Project is within a State of California Opportunity Zone, which could allow for tax incentives for a redevelopment project on this site.
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.