Brick+Work

Koreatown R3 Lot, 18 Unit Potential with Tier 4 TOC

Koreatown R3 Lot, 18 Unit Potential with Tier 4 TOC

APN: 5518026002

$

18
Max Unit
7,500 sq. ft.
Lot Size
Tier 4
TOC
1
Lots
Existing Conditions
Floor Area 1,563 sq. ft.
Units 1
Year Constructed 1920
Assessed Improvement Value $86,045
Assessed Land Value $57,354
Development Potential (By-Right)
Maximum FAR 3:1
Maximum Height
Feet

45 ft.

Stories

None

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.

10 ft front setback for key lots

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 4,800 sq. ft.
Max Buildable Area, Envelope 14,400 sq. ft.
Max Dwelling Units 9
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;
Short Term 1 space per 10 units for units 0-25;
Transitional Height Limitations Per specific plan: the max height of any project may not exceed a height that is within 15 ft. of the height of the shortest existing building on any adjacent lot.
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 4.65:1
Maximum Height
Feet

78 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.

10 ft front setback for key lots

Side

3.25 ft.

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

Back

9.75 ft.

Max Buildable Area, Footprint 5,448 sq. ft.
Max Buildable Area, Envelope 25,335 sq. ft.
Max Dwelling Units 18
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
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 Within the first 25 feet of the property line abutting or across the street or alley from the 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 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 75, TR 3247
Land Use Medium Residential
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council Wilshire Center-Koreatown
Council District 13
Councilmember Mitch O'Farrell
Red Flags
Property is subject to the requirements of the Vermont / Western Station Neighborhood Area Plan, which could limit the development potential of the site.
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.