Description for
4155 Wilshire BoulevardLos Angeles, CA 90010
We are proud to present for sale a development opportunity in prime Los Angeles' Windsor Square neighborhood - that vacant lot on Wilshire Blvd. that you have been driving past for years wondering, why don't they build something there?! Well, now is your chance! The opportunity consists of a 22,377 SF lot zoned CR(PKM)-1 in a Tier 3 TOC area with direct street access on three sides of the lot. The property falls under the General Commercial designation in the General Plan, allowing for R4 density! Or go for Unlimited Density by utilizing State Density Laws with 100% Affordable Housing. The property is subject to the Park Mile Specific Plan. Build 55+/- Units by Right with AB2334, or up to 110+/- Units by Density Bonus! Go with a strictly 100% Affordable Housing Project to maximize density. The location qualifies for SAFMR Tier 2 rents. Next to Koreatown and across the street from the gorgeous Los Altos apartment building and half a mile to the Metro (D) Purple Line Station, this property is located in a high demand area that is soon to have easy access to the Metro Line that will take future tenants towards Westwood, as it now already takes them to Downtown. AB1287 may provide up to a 100% increase in density, provided that 15% of the base density is set aside for Very-Low Income Tenants and 15% of base density is set aside for Moderate Income Tenants. No tenants, no Ellis, no RSO, the property is ready for it's next role in life, and ready to become the go-to spot for all different tenant types out there!
Price
$6,500,000
Los Angeles
24358203
Active
Description
We are proud to present for sale a development opportunity in prime Los Angeles' Windsor Square neighborhood - that vacant lot on Wilshire Blvd. that you have been driving past for years wondering, why don't they build something there?! Well, now is your chance! The opportunity consists of a 22,377 SF lot zoned CR(PKM)-1 in a Tier 3 TOC area with direct street access on three sides of the lot. The property falls under the General Commercial designation in the General Plan, allowing for R4 density! Or go for Unlimited Density by utilizing State Density Laws with 100% Affordable Housing. The property is subject to the Park Mile Specific Plan. Build 55+/- Units by Right with AB2334, or up to 110+/- Units by Density Bonus! Go with a strictly 100% Affordable Housing Project to maximize density. The location qualifies for SAFMR Tier 2 rents. Next to Koreatown and across the street from the gorgeous Los Altos apartment building and half a mile to the Metro (D) Purple Line Station, this property is located in a high demand area that is soon to have easy access to the Metro Line that will take future tenants towards Westwood, as it now already takes them to Downtown. AB1287 may provide up to a 100% increase in density, provided that 15% of the base density is set aside for Very-Low Income Tenants and 15% of base density is set aside for Moderate Income Tenants. No tenants, no Ellis, no RSO, the property is ready for it's next role in life, and ready to become the go-to spot for all different tenant types out there!
Listing Information
Property Type: Land, Other
0.51 Acres
Neighborhood
Room Information
Exterior / Lot Features
0 Covered Parking Spaces,
171x130
CR(PKM)-1 Tier 3
Driving Directions
Just west of Koreatown. Wilshire Blvd...one of the world's most visited streets!
Financial Considerations
5504009017
Listing Price History
Los Angeles Real Estate
Los Angeles is located in California.
Los Angeles, California 90010 has a population of 3,956,168.
The median household income in Los Angeles, California 90010 is
$50,820.
The median household income for the surrounding county is $73,262
compared to the national median of $66,222.
The median age of people living in Los Angeles 90010 is 38 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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