Brick+Work

Wilshire Center-Koreatown, 45 Unit Potential, 3.75 Max FAR

Los Angeles

Wilshire Center-Koreatown, 45 Unit Potential, 3.75 Max FAR

APN: 5518029019

$

$
45
Max Unit
20,402 sq. ft.
Lot Size
Tier 3
TOC
1
Lots
Existing Conditions
Floor Area 14,237 sq. ft. (combined)
Units 0
Year Constructed Several
Assessed Improvement Value $816,887 (combined)
Assessed Land Value $3,896,785 (combined)
Development Potential (By-Right)
Maximum FAR 2:1 (1.5:1 for commercial uses only)
Maximum Height
Feet

50 ft. (35 ft. for commercial uses only)

Stories

None

Minimum Setbacks
Front

0 ft.

Side

0 ft.

Back

0 ft.

Max Buildable Area, Footprint 20,402 sq. ft.
Max Buildable Area, Envelope 40,804 sq. ft. (30,603 sq. ft. for commercial uses only)
Max Dwelling Units 25
Affordable Units Required None
Parking Required 1 space per unit with less than 3 habitable rooms 1.5 spaces per unit with more than 3 habitable rooms .25 spaces/unit for guest parking
Required Bicycle Parking
Long Term .5 spaces per unit
Short Term N/A
Transitional Height Limitations Portions of Buildings in Subarea B with certain distances of Subarea A of the Specific Plan 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 Residential uses limited to R3 density per Specific Plan
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 20,402 sq. ft.
Max Buildable Area, Envelope 76,508 sq. ft.
Max Dwelling Units 45
Affordable Units Required at least 10% Extremely Low Income, or 14% Very Low Income, or 23% Low Income
Parking Required Less than .5 space per unit
Required Bicycle Parking
Long Term .5 spaces per unit
Short Term N/A
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 required open space
Other Development Notes Residential uses limited to R3 density per Specific Plan
Jurisdictional
Legal Description Lot 34, TR 4349; Lot FR 56, TR 3611
Land Use Neighborhood Commercial
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council Wilshire Center-Koreatown
Council District 10
Councilmember Herb J. Wesson, Jr.
Red Flags
Property is subject to the requirements of the Vermont/Western TOD Specific Plan, which could limit the development potential of the site.
Development Plans on this property will be subject to review by the East Hollywood/Beverley Normandie Earthquake Disaster Assistance Project. 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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