Brick+Work

Koreatown Tier 4 TOC, 18 Unit Potential

Koreatown Tier 4 TOC, 18 Unit Potential

APN:

$ 1.37M

18
Max Unit
7,502 sq. ft.
Lot Size
Tier 4
TOC
1
Lots
Existing Conditions
Floor Area 4,224 sq. ft.
Units 4
Year Constructed 1922
Assessed Improvement Value $82,660
Assessed Land Value $234,222
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 ft. 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 or more habitable rooms .25 spaces per unit for guest parking (Per Specific Plan guidelines)
Required Bicycle Parking
Long Term 1 per dwelling unit or guest room
Short Term 1 per 10 dwelling unit or guest room
Transitional Height Limitations The maximum height of any Project shall not exceed a height that is within 15 feet of the height of the shortest existing building on any adjacent lot. (Per Specific Plan guidelines)
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 Minimum 500 sq. ft. per guest room
Development Potential (with TOC or DB)
Maximum FAR 4.65:1
Maximum Height
Feet

78

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

3.3 ft.

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

Back

9.8 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 residents, or 15% for Very Low Income residents, or 25% for Low Income Residents
Parking Required None
Required Bicycle Parking
Long Term 1 per dwelling unit or guest room
Short Term 1 per 10 dwelling units or guest rooms
Transitional Height Limitations When bordering specific plan, overlay zone, or RW1 or more restrictive zone, within the first 25 ft. 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 ft. above grade at the property line of the adjoining lot.
Required Open Space Up to 25% decrease in open space required by-right.
Other Development Notes Minimum 500 sq. ft. per guest room
Jurisdictional
Legal Description Lot 111, 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
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.
Property is subject to the requirements of the Vermont/Western TOD Specific Plan, which could limit the development potential of the site.
Development Plans on this property will be subject to review by the East Hollywood/Beverley Normandie Earthquake Disaster Assistance 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
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