Brick+Work

Greater Wilshire R3 Lot, 24 Unit Potential with Tier 3 TOC

Los Angeles

Greater Wilshire R3 Lot, 24 Unit Potential with Tier 3 TOC

APN: 5092001027

$

$
24
Max Unit
10,489 sq. ft.
Lot Size
Tier 3
TOC
1
Lots
Existing Conditions
Floor Area 2,691 sq. ft.
Units 11
Year Constructed 1920
Assessed Improvement Value $305,868
Assessed Land Value $183,243
Development Potential (By-Right)
Maximum FAR 3:1
Maximum Height
Feet

45 ft.

Per Specific Plan.

Stories

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

Minimum Setbacks
Front

15 ft.

Per ORD-74285, there is a 15 ft. building line.

Side

5 ft.

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

Back

15 ft.

Max Buildable Area, Footprint 7,150 sq. ft.
Max Buildable Area, Envelope 21,450 sq. ft.
Max Dwelling Units 13
Affordable Units Required None
Parking Required Per Specific Plan: For dwelling units, there shall be at least two and 1/2 parking spaces for each dwelling unit regardless of the number of habitable rooms contained therein.Of the total number of parking spaces required pursuant to this provision, at least 1/2 parking space per unit shall be preserved for, and accessible to, visitors and guests.
Required Bicycle Parking
Long Term 1 space per unit for units 0-25;
Short Term 1 space per 10 units for units 0-25;
Transitional Height Limitations
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 4.5:1
Maximum Height
Feet

67 ft.

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

15 ft.

Per ORD-74285, there is a 15 ft. building line.

Side

3.5 ft.

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

Back

10.5 ft.

Max Buildable Area, Footprint 7,786 sq. ft.
Max Buildable Area, Envelope 35,037 sq. ft.
Max Dwelling Units 24
Affordable Units Required at least 10% for Extremely Low Income, or 14% for Very Low Income, or 23% for Low Income
Parking Required Shall not exceed .5 space per unit
Required Bicycle Parking
Long Term 1 space per unit for units 0-25;
Short Term 1 space per 10 units for units 0-25;
Transitional Height Limitations The building height limit shall be stepped-back at a 45 degree angle as measured from a horizontal plane originating 25 feet above grade at the property line of the adjoining lot.
Required Open Space Up to 25% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description Lot 7, Block 19,
Land Use Medium Residential
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council Greater Wilshire
Council District 4
Councilmember David Ryu
Red Flags
Property is subject to the requirements of the Park Mile Specific Plan, which could limit the development potential of the 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.