Brick+Work

Olympic Park C2/R3 Corner, 71 Potential Units with Tier 2 TOC

Los Angeles

Olympic Park C2/R3 Corner, 71 Potential Units with Tier 2 TOC

APN: 5080-020-027, 028, 008, 009,010

$ 5M5000000

Print Friendly and PDF
$ 5000000
Print Friendly, PDF & Email
[Q]C2-2, R3-1
Zone/District
214,642 sq. ft. (148,831 sq. ft. in C2 zone + 65,811 sq. ft. in R3 zone)
Max Unit
34,859 sq. ft.
Lot Size
Tier 2
TOC
5
Lots
Existing Conditions
Floor Area 24,462 sq. ft. (combined)
Units 6 (combined)
Year Constructed Several
Assessed Improvement Value $1,483,349 (combined)
Assessed Land Value $2,268,777 (combined)
Development Potential (By-Right)
Maximum FAR 6:1 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 Pico Blvd.

Side

5 ft.

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

Back

15 ft.

Max Buildable Area, Footprint 30,373 sq. ft. (15,777 sq. ft. in C2 zone + 14,596 sq. ft. in R3 zone)
Max Buildable Area, Envelope 146,430 sq. ft. (102,642 sq. ft. in C2 zone + 43,788 sq. ft. in R3 zone)
Max Dwelling Units 43
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 8.7:1 in C2 zone, 4.35:1 in R3 zone
Maximum Height
Feet

None in C2 zone, 56 ft. in R3 zone

Stories

None

Minimum Setbacks
Front

0 ft.

Side

5 ft.

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

Back

10.5 ft.

Max Buildable Area, Footprint 15,129 sq. ft.
Max Buildable Area, Envelope 30,905 sq. ft. (15,777 sq. ft. in C2 zone + 15,129 sq. ft. in R3 zone)
Max Dwelling Units 214,642 sq. ft. (148,831 sq. ft. in C2 zone + 65,811 sq. ft. in R3 zone)
Affordable Units Required 71
Parking Required Shall not be required to exceed 1 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 shall be stepped back The building height limit shall be stepped-back at a 45 degree angle as measured from a horizontal plane originating 15 feet above grade at the property line of the adjoining lot.
Required Open Space Up to 20% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description Lots 8-12, Block 40, Electric Railway Homestead Association Tract
Land Use General Commercial
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council Olympic Park
Council District 10
Councilmember Mark Ridley-Thomas
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.
Per ORD-165331-SA9400, residential projects on this site density provisions of the R3 zone.
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.