Brick+Work

Historic Cultural North C2 Property, 197 Potential Units with TOC Tier 4

Los Angeles

Historic Cultural North C2 Property, 197 Potential Units with TOC Tier 4

APN: 5408-028-012

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197
Max Unit
21,639 sq. ft.
Lot Size
Tier 4
TOC
1
Lots
Existing Conditions
Floor Area 6,572 sq. ft.
Units 0
Year Constructed 1887
Assessed Improvement Value $309,170
Assessed Land Value $571,661
Development Potential (By-Right)
Maximum FAR 6:1
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

0 ft.

Side

5 ft. for ground floor residential uses; 0 ft. for ground floor commercial uses

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

Back

15 ft. for ground floor residential uses; 0 ft. for ground floor commercial uses

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

Max Buildable Area, Footprint 21,639 sq. ft.
Max Buildable Area, Envelope 129,834 sq. ft.
Max Dwelling Units 108
Affordable Units Required at least 15% of all new and rehabilitated dwelling units developed within the Project Area by public or private entities shall be available at affordable housing cost to persons and families of low- or moderate-income; and of such 15%, not less than 40% shall be available at affordable housing cost to very low-income households
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 space per unit for units 0-25; 1 spaces per 1.5 units for units 26-100; 1 spaces per 2 units for units 101-200; 1 spaces per 4 units for units 201+
Short Term 1 space per 10 units for units 0-25; 1 spaces per 15 unit for units 26-100; 1 spaces per 20 units for units 101-200; 1 spaces per 40 unit for units 201+
Transitional Height Limitations None required
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 Project site is within the Adaptive Reuse Incentive Area which can relax parking and density requirements as well as provides flexibility in the approval and permitting process. Site is also eligible for R5 Development Standards due to Regional Center Commercial Land Use Designation.
Development Potential (with TOC or DB)
Maximum FAR 9.3:1
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

0 ft.

Side

5 ft. for ground floor residential uses; 0 ft. for ground floor commercial uses

Back

15 ft. for ground floor residential uses; 0 ft. for ground floor commercial uses

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

Max Buildable Area, Footprint 21,639 sq. ft.
Max Buildable Area, Envelope 201,242 sq. ft.
Max Dwelling Units 197
Affordable Units Required at least 11% for Extremely Low Income, or 15% for Very Low Income, or 25% for Low Income
Parking Required No required parking for residential units in an Eligible Housing Development
Required Bicycle Parking
Long Term 1 space per unit for units 0-25; 1 spaces per 1.5 units for units 26-100; 1 spaces per 2 units for units 101-200; 1 spaces per 4 units for units 201+
Short Term 1 space per 10 units for units 0-25; 1 spaces per 15 unit for units 26-100; 1 spaces per 20 units for units 101-200; 1 spaces per 40 unit for units 201+
Transitional Height Limitations None required
Required Open Space Up to 25% decrease in required open space
Other Development Notes Project site is within the Adaptive Reuse Incentive Area which can relax parking and density requirements as well as provides flexibility in the approval and permitting process. Site is also eligible for R5 Development Standards due to Regional Center Commercial Land Use Designation.
Jurisdictional
Legal Description Lot 1 (Arb 2), 2 -4, JUANA ALVARADO TRACT
Land Use Regional Commercial
Area Planning Commission Central
Community Plan Area Central City North
Neighborhood Council Historic Cultural
Council District 1
Councilmember Gilbert Cedillo
Red Flags
Development Plans on this property will be subject to review by the Chinatown Redevelopment Project. This could also limit the utilization of TOC incentives.
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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

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