Brick+Work

Koreatown Full Block

Koreatown Full Block

APN: Several

$

$
C2-1, R4-1
Zone/District
400
Max Unit
93,863 sq. ft.
Lot Size
Tier 3
TOC
5
Lots
Existing Conditions
Floor Area 27,857 sq. ft. (combined)
Units 32 (combined)
Year Constructed Several
Assessed Improvement Value $3,429,606 (combined)
Assessed Land Value $14,702,881 (combined)
Development Potential (By-Right)
Maximum FAR 1.5:1 in C2 zone; 3:1 in R4 zone
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

0 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 86,313 sq. ft.
Max Buildable Area, Envelope 205,595 sq. ft. (129,600 sq. ft. in R4 zone, 75,995 sq. ft. in C2 zone)
Max Dwelling Units 234
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 4 dwelling unit or guest room
Short Term 1 per 40 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
Development Potential (with TOC or DB)
Maximum FAR 3.75:1 in C2 zone; 4.5:1 in R4 zone (4.125:1 average FAR across site)
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

0 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 88,547 sq. ft.
Max Buildable Area, Envelope 387,184 sq. ft.
Max Dwelling Units 400
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 space per unit
Required Bicycle Parking
Long Term 1 per 4 dwelling units or guest rooms
Short Term 1 per 40 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 required open space
Other Development Notes
Jurisdictional
Legal Description Lots FR 135-FR 141, Clark and Bryan's Westmoreland Tract
Land Use Neighborhood Serving Corridor
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council Pico Union
Council District 1
Councilmember Gilbert Cedillo
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.
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.