Brick+Work

Wilshire Center-Koreatown, 65 Unit Potential, 9 Max FAR

Los Angeles

Wilshire Center-Koreatown, 65 Unit Potential, 9 Max FAR

APN: 5094-005-014

$

65
Max Unit
7,517 sq. ft.
Lot Size
Tier 3
TOC
1
Lots
Existing Conditions
Floor Area 7,870 sq. ft.
Units 16
Year Constructed 1939
Assessed Improvement Value $500,000
Assessed Land Value $1,600,000
Development Potential (By-Right)
Maximum FAR 6:1
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

15 ft.

Side

5 ft.

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

Back

15 ft.

add 1 foot of back setback for each story over 3, not to exceed 20 ft.

Max Buildable Area, Footprint 4,675 sq. ft.
Max Buildable Area, Envelope 45,102 sq. ft.
Max Dwelling Units 37
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 per 1.5 dwelling unit or guest room
Short Term 1 per 15 dwelling unit or guest room
Transitional Height Limitations None
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 9:1
Maximum Height
Feet

None

Stories

None

Minimum Setbacks
Front

15 ft.

Side

3.5 ft.

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

Back

10.5 ft.

add 1 foot of side setback for each story over 3, not to exceed 20 ft.

Max Buildable Area, Footprint 5,194 sq. ft.
Max Buildable Area, Envelope 67,653 sq. ft.
Max Dwelling Units 65
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 1 per 1.5 dwelling units or guest rooms
Short Term 1 per 15 dwelling units or guest rooms
Transitional Height Limitations None
Required Open Space Up to 25% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description Lot 25, TR 7502
Land Use Regional Center
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council Wilshire Center-Koreatown
Council District 10
Councilmember Herb J. Wesson, Jr.
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.
Development Plans on this property will be subject to review by the Wilshire Center/Koreatown CRA. 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.
BRICK+WORK Analyzer
Calculator
Please Enter Land Cost.
Please Enter Average Rents in Area.
Ask Administrator to enter the required values for the calculation of Financial Analyser.
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

Property Report Disclaimer

All data are obtained from government sources. No attempt has been made to verify the data’s accuracy.

This report is for informational purposes only. Do not rely on this report to support real estate or investment decisions. The only authoritative source for the information in this report is the government agencies from which the data was obtained.

By publishing this property, you represent and warrant that you have obtained the authorization from the property owner to market this property AND to take actions on behalf of the property owner.