Brick+Work

Palms C2 Corner Property; 53 Potential Units with Tier 2 TOC

Los Angeles

Palms C2 Corner Property; 53 Potential Units with Tier 2 TOC

APN: 4252-025-021, 4252-025-020, 4252-025-019

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53
Max Unit
12,211 sq. ft.
Lot Size
Tier 2
TOC
3
Lots
Existing Conditions
Floor Area 6,741 sq. ft. (combined)
Units 0
Year Constructed Several
Assessed Improvement Value $76,964 (combined)
Assessed Land Value $128,822 (combined)
Development Potential (By-Right)
Maximum FAR 1.5:1
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

0 ft.

Along Kelton Ave.

Side

8 ft./5 ft.

8 ft. building line along Venice Blvd. per ORD-69042; 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.

setbacks required only for residential stories; add 1 foot of back setback for each story over 3, not to exceed 20 ft.; no rear setback required for commercial only uses; no rear setbacks required for mixed use project abutting street or alley

Max Buildable Area, Footprint 9,312 sq. ft.
Max Buildable Area, Envelope 18,317 sq. ft.
Max Dwelling Units 32
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 3.25:1
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

0 ft.

Side

8 ft./5 ft.

8 ft. building line along Venice Blvd. per ORD-69042; 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

5 ft.

no setbacks required for mixed use project abutting street or alley or commercial only uses

Max Buildable Area, Footprint 10,282 sq. ft.
Max Buildable Area, Envelope 39,686 sq. ft.
Max Dwelling Units 53
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 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 1-4, TR 5848
Land Use General Commercial
Area Planning Commission West Los Angeles
Community Plan Area Palms-Mar Vista-Del Rey
Neighborhood Council Palms
Council District 5
Councilmember Paul Koretz
Red Flags
Property is subject to the requirements of the West Los Angeles Transportation Improvement and Mitigation Specific Plan, 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
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