Brick+Work

Wilshire R3 Lot, 11 Unit Potential with Tier 1 TOC

los angeles

Wilshire R3 Lot, 11 Unit Potential with Tier 1 TOC

APN: 5521011027

$ 1.5M1500000

Print Friendly and PDF
$ 1500000
Print Friendly, PDF & Email
11
Max Unit
5,534 sq. ft.
Lot Size
Tier 1
TOC
1
Lots
Existing Conditions
Floor Area 1,890 sq. ft.
Units 2
Year Constructed 1921
Assessed Improvement Value $119,485
Assessed Land Value $333,868
Development Potential (By-Right)
Maximum FAR 3:1
Maximum Height
Feet

45 ft.

Stories

None

Minimum Setbacks
Front

15 ft.

15 ft. building line per ORD-48804

Side

5 ft.

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

Back

15 ft.

Max Buildable Area, Footprint 3,200 sq. ft.
Max Buildable Area, Envelope 9,600 sq. ft.
Max Dwelling Units 6
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;
Short Term 1 space per 10 units for units 0-25;
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 4.2:1
Maximum Height
Feet

56 ft.

Projects located in a zone where the maximum height is 45 ft. or less, or located within a Specific Plan that limits height, height increases over 11 ft. must be stepped-back at least 15 ft. from the exterior face of the ground floor building located at any street frontage.

Stories

None

Minimum Setbacks
Front

15 ft.

15 ft. building line per ORD-48804

Side

5 ft.

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

Back

11.25 ft.

Max Buildable Area, Footprint 3,350 sq. ft.
Max Buildable Area, Envelope 13,440 sq. ft.
Max Dwelling Units 11
Affordable Units Required at least 8% for Extremely Low Income, or 11% for Very Low Income, or 20% for Low Income
Parking Required Shall not exceed .5 space per bedroom
Required Bicycle Parking
Long Term 1 space per unit for units 0-25;
Short Term 1 space per 10 units for units 0-25;
Transitional Height Limitations None Required
Required Open Space Up to 20% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description Lot 24, Block 7, La Paloma Addition
Land Use Medium Residential
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council Wilshire Center-Koreatown
Council District 13
Councilmember Mitch O'Farrell
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.
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.