Brick+Work

Virgil Village 31 Unit Potential

Virgil Village 31 Unit Potential

APN:

$ 5.5M

31
Max Unit
13,837 sq. ft.
Lot Size
Tier 3
TOC
2
Lots
Existing Conditions
Floor Area 6,505 sq. ft.
Units 0
Year Constructed 1971/1935
Assessed Improvement Value $424,483
Assessed Land Value $1,697,932
Development Potential (By-Right)
Maximum FAR 2:1 (Per Specific Plan guidelines)
Maximum Height
Feet

50 ft.

Per Specific Plan guidelines

Stories

None

Buildings used entirely for residential uses (and ground floor commercial in RAS zones) are only limited in height, not stories.

Minimum Setbacks
Front

0 ft.

Side

0 ft.

add 1 ft. of side setback for each story over 2, not to exceed 16 ft.; side setbacks only required for residential uses at lowest story

Back

0 ft.

Add 1 ft. of back setback for each story over 3, not to exceed 20 ft.; back setbacks only required for residential uses at lowest story

Max Buildable Area, Footprint 13,837 sq. ft.
Max Buildable Area, Envelope 27,674 sq. ft.
Max Dwelling Units 17
Affordable Units Required None
Parking Required 1 space per unit with less than 3 habitable rooms 1.5 spaces per unit with 3 or more habitable rooms .25 spaces per unit for guest parking
Required Bicycle Parking
Long Term 1 per dwelling unit or guest room
Short Term 1 per 10 dwelling unit or guest room
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
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 Standards apply to Mixed Use/Residential only building, more restrictive for commercial uses only
Development Potential (with TOC or DB)
Maximum FAR 3.75:1
Maximum Height
Feet

72 ft.

Stories

None

Minimum Setbacks
Front

0 ft.

Side

0 ft.

Back

0 ft.

Max Buildable Area, Footprint 13,837 sq. ft.
Max Buildable Area, Envelope 51,889 sq. ft.
Max Dwelling Units 31
Affordable Units Required at least 10% for Extremely Low Income residents, or 14% for Very Low Income residents, or 23% for Low Income Residents
Parking Required less than .5 spaces per unit
Required Bicycle Parking
Long Term 1 per dwelling unit or guest room
Short Term 1 per 10 dwelling units or guest rooms
Transitional Height Limitations When bordering specific plan, overlay zone, or RW1 or more restrictive zone, the building height limit shall be stepped-back at a 45 degree angle as measured from a horizontal plane originating 25 ft. above grade at the property line of the adjoining lot.
Required Open Space Up to 25% decrease in open space required by-right.
Other Development Notes Standards apply to Mixed Use/Residential only building, more restrictive for commercial uses only
Jurisdictional
Legal Description Lots FR 9 & 10, Dayton Heights Tract
Land Use Neighborhood Commercial
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council East Hollywood
Council District 13
Councilmember Mitch O'Farrell
Red Flags
Property is subject to the requirements of the Vermont/Western TOD 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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