Brick+Work

Venice RD1.5 Property, 3 Potential Units with Density Bonus

VENICE

Venice RD1.5 Property, 3 Potential Units with Density Bonus

APN: 4239-019-022

$ 1.63M

RD1.5-1
Zone/District
3
Max Unit
5,213 sq. ft.
Lot Size
No
TOC
1
Lots
Existing Conditions
Floor Area 1,111 sq. ft.(combined)
Units 2
Year Constructed 1914
Assessed Improvement Value $100,988
Assessed Land Value $123,161
Development Potential (By-Right)
Maximum FAR 3:1
Maximum Height
Feet

25 ft. (for Flat Roof development projects)

30 ft. max height for varied rooflines provided that any portion of the roof that exceeds 25 ft. is set back from the required front yard at least 1 ft. in depth for every foot in height above 25 ft.

Stories

None

Minimum Setbacks
Front

15 ft.

Side

4 ft.

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

Back

15 ft.

Max Buildable Area, Footprint 3,173 sq. ft.
Max Buildable Area, Envelope 9,519 sq. ft.
Max Dwelling Units 2
Affordable Units Required None
Parking Required 2 spaces for each dwelling unit; minimum of one guest parking space for each 4 or fewer units
Required Bicycle Parking
Long Term None required
Short Term None Required
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 4.05:1
Maximum Height
Feet

25 ft.

Eligible for increase through bonus incentives

Stories

None

Minimum Setbacks
Front

15 ft.

Side

5 ft.

Back

12 ft.

Max Buildable Area, Footprint 3,293 sq. ft.
Max Buildable Area, Envelope 13,336 sq. ft.
Max Dwelling Units 3
Affordable Units Required at least 11% for Very Low Income, 20% for Low Income, or 40% for Moderate Income (for sale)
Parking Required 0 – 1 bedrooms: 1 onsite parking space; 2 – 3 bedrooms: 2 onsite parking spaces ; 4 or more bedrooms: 2½ parking spaces
Required Bicycle Parking
Long Term None Required
Short Term None Required
Transitional Height Limitations None Required
Required Open Space Up to 20% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description Lot 28, Block L, OCEAN PARK VILLA TRACT
Land Use Low Medium II Residential
Area Planning Commission West Los Angeles
Community Plan Area Venice
Neighborhood Council Venice
Council District 11
Councilmember Mike Bonin
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 Los Angeles Coastal Transportation Corridor and Venice Coastal Zone specific plans, which could limit the development potential of the site
Development Plans on this property will be subject to review by the California Coastal Commission
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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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