Brick+Work

P.I.C.O C4 Corner Property, 58 Potential Units with TOC Tier 2

Los Angeles

P.I.C.O C4 Corner Property, 58 Potential Units with TOC Tier 2

APN: 5069-024-014 ; 5069-024-013

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C4-1-O
Zone/District
58
Max Unit
14,061 sq. ft.
Lot Size
Tier 2
TOC
4
Lots
Existing Conditions
Floor Area 5,174 sq. ft. (combined)
Units 0
Year Constructed 1924-1946
Assessed Improvement Value $243,879
Assessed Land Value $1,298,916
Development Potential (By-Right)
Maximum FAR 1.5:1
Maximum Height
Feet

75 ft.

Stories

None

Minimum Setbacks
Front

0 ft.

Side

0 ft. for commercial uses; 5 ft. for residential uses

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

Back

0 ft. for commercial uses; 15 ft. for residential uses

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

Max Buildable Area, Footprint 14,061 sq. ft.
Max Buildable Area, Envelope 21,091 sq. ft.
Max Dwelling Units 35
Affordable Units Required at least 15% of all new and rehabilitated dwelling units developed within the Project Area by public or private entities shall be available at affordable housing cost to persons and families of low- or moderate-income; and of such 15%, not less than 40% shall be available at affordable housing cost to very low-income households
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 3.25:1
Maximum Height
Feet

86 ft.

Stories

None

Minimum Setbacks
Front

0 ft.

Side

0 ft. for commercial uses; 3.5 ft./5 ft. for residential uses

Back

0 ft. for commercial uses; 5 ft. for residential uses

Max Buildable Area, Footprint 14,061 sq. ft.
Max Buildable Area, Envelope 45,698 sq. ft.
Max Dwelling Units 58
Affordable Units Required at least 9% for Extremely Low Income, or 12% for Very Low Income, or 21% for Low Income
Parking Required Shall not exceed .5 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 None required
Required Open Space Up to 20% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description FR 11 & FR 13, Block 3, TR 5091
Land Use General Commercial
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council P.I.C.O.
Council District 10
Councilmember Mark Ridley-Thomas
Red Flags
Project is subject to the requirements of the Mid-City Recovery Redevelopment Project, which could limit the development potential of the 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%)
NOI
Valuation
Equity After Completion
Equity Multiple
IRR

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