
Description
Prime development opportunity located in Korea Town within Qualified Opportunity Zone. Vacant 7,500sf flat lot, zoned R3-1, Tier 3 TOC, presents an amazing opportunity to develop up to 59-units affordable housing project with NO parking requirements or up to 30 units (mostly market rate units) under the new CHIP program. The land comes with an approved set of plans with ready to issue permits (RTI) to build a 15-unit apartment building over a single level subterranean garage. This site is located within a few minutes walking distance to Vermont/Beverly Metro Station (B-Line) and is otherwise centrally positioned within a highly densely populated neighborhood with high demand for rental units.
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0BEDS
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0.17ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
Prime development opportunity located in Korea Town within Qualified Opportunity Zone. Vacant 7,500sf flat lot, zoned R3-1, Tier 3 TOC, presents an amazing opportunity to develop up to 59-units affordable housing project with NO parking requirements or up to 30 units (mostly market rate units) under the new CHIP program. The land comes with an approved set of plans with ready to issue permits (RTI) to build a 15-unit apartment building over a single level subterranean garage. This site is located within a few minutes walking distance to Vermont/Beverly Metro Station (B-Line) and is otherwise centrally positioned within a highly densely populated neighborhood with high demand for rental units.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2025-02-18T16:43:07.31. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.