Brick+Work

Koreatown R5 Corner, 157 Potential Units with Tier 4 TOC

Los Angeles

Koreatown R5 Corner, 157 Potential Units with Tier 4 TOC

APN: 5094002023

$

157
Max Unit
17,297 sq. ft.
Lot Size
Tier 4
TOC
1
Lots
Existing Conditions
Floor Area 14,926 sq. ft.
Units 0
Year Constructed 1986
Assessed Improvement Value $2,040,000
Assessed Land Value $5,500,000
Development Potential (By-Right)
Maximum FAR 6:1
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

15 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 12,535 sq. ft.
Max Buildable Area, Envelope 75,210 sq. ft.
Max Dwelling Units 86
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 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
Development Potential (with TOC or DB)
Maximum FAR 9.3:1
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

15 ft.

Side

5 ft./3.25 ft.

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

Back

9.75 ft.

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

Max Buildable Area, Footprint 13,749 sq. ft.
Max Buildable Area, Envelope 116,576 sq. ft.
Max Dwelling Units 157
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; 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
Jurisdictional
Legal Description Lots 89-91, Wilshire Harvard Heights Tract
Land Use Regional Center Commercial
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council Wilshire Center-Koreatown
Council District 10
Councilmember Herb J. Wesson, Jr.
Red Flags
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.
Project is within a State of California Opportunity Zone, which could allow for tax incentives for a redevelopment project on this site.
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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%)
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