Brick+Work

Regional Center Commercial C2 Lot, 92 Unit Potential with Tier 4 TOC

Regional Center Commercial C2 Lot, 92 Unit Potential with Tier 4 TOC

APN: 5502031012

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92
Max Unit
10,138 sq. ft.
Lot Size
Tier 4
TOC
1
Lots
Existing Conditions
Floor Area 7,200 sq. ft.
Units 8
Year Constructed 1925
Assessed Improvement Value $582,435
Assessed Land Value $2,527,558
Development Potential (By-Right)
Maximum FAR 6:1
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

0 ft.

Side

5 ft.

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.

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 7,750 sq. ft.
Max Buildable Area, Envelope 60,828 sq. ft.
Max Dwelling Units 50
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;
Short Term 1 space per 10 units for units 0-25; 1 spaces per 15 unit for units 26-100;
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 9.3:1
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

0 ft.

Side

5 ft.

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.

15 ft. rear setback required if abutting RD or more restrictive zone; no setbacks required for mixed use project abutting street or alley or commercial only uses

Max Buildable Area, Footprint 8,370 sq. ft.
Max Buildable Area, Envelope 94,283 sq. ft.
Max Dwelling Units 92
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;
Short Term 1 space per 10 units for units 0-25; 1 spaces per 15 unit for units 26-100;
Transitional Height Limitations None
Required Open Space Up to 25% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description Lot 15, Block 4, Chapman Park 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/LA. 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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Equity After Completion
Equity Multiple
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