Brick+Work

Koreatown Corner Through Property, 123 Units with TOC

Los Angeles

Koreatown Corner Through Property, 123 Units with TOC

APN: 5503-007-024; 5503-007-013

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C2-1, R3-1
Zone/District
123
Max Unit
36,687 sq. ft.
Lot Size
Tier 3
TOC
2
Lots
Existing Conditions
Floor Area 0 sq. ft.
Units 0
Year Constructed N/A
Assessed Improvement Value $0
Assessed Land Value $8,637,264 (combined)
Development Potential (By-Right)
Maximum FAR 1.5:1 in C2 zone, 3:1 in R3 zone
Maximum Height
Feet

None in C2 zone, 45 ft. in R3 zone

Stories

None

Minimum Setbacks
Front

0 ft.

Along Kingsley Dr.

Side

5 ft.

C2 zone: setbacks required only for residential stories; add 1 foot of side setback for each story over 2, not to exceed 16 ft.; no side setback required for commercial only uses; no side setbacks required for mixed use project abutting street or alley. R3 zone: add 1 foot of side setback for each story over 2, not to exceed 16 ft.

Back

0 ft. in C2 zone; 15 ft. in R3 zone

Along Harvard Blvd.; 15 ft. building line in R3 zone per ORD-114147

Max Buildable Area, Footprint 30,829 sq. ft. (18,005 sq. ft. in C2 zone + 12,824 sq. ft. in R3 zone)
Max Buildable Area, Envelope 68,480 sq. ft. (30,008 sq. ft. in C2 zone + 38,472 sq. ft. in R3 zone)
Max Dwelling Units 70 (50 in C2 zone + 20 in R3 zone)
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 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 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 in C2 zone, 4.5:1 in R3 zone
Maximum Height
Feet

None in C2 zone, 67 ft. in R3 zone

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.

Along Kingsley Drive

Side

5 ft. in C2 zone; 3.5 ft. in R3 zone

C2 zone: setbacks required only for residential stories; add 1 foot of side setback for each story over 2, not to exceed 16 ft.; no side setback required for commercial only uses; no side setbacks required for mixed use project abutting street or alley; R3 zone: add 1 foot of side setback for each story over 2

Back

0 ft. in C2 zone; 10.5 ft. in R3 zone

Along Harvard Blvd.; 15 ft. building line in R3 zone per ORD-114147

Max Buildable Area, Footprint 31,489 sq. ft.
Max Buildable Area, Envelope 135,097 sq. ft.
Max Dwelling Units 123
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; 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 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 Lots 60-63, Norwood Terrace Tract
Land Use Neighborhood Office Commercial; Medium Residential
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council Wilshire Center-Koreatown
Council District 10
Councilmember Herb J. Wesson, Jr.
Red Flags
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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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