Incredible Development Opportunity to build!!! This property will be delivered with RTI approved plans to build a new 30 unit apartment building on 6 stories and basement. The existing four-plex holds month to month tenants and the property can be vacated in approx. 3 months. Situated in the OPPORTUNITY ZONE, this property is perfectly located in the thriving revitalized area of Macarthur Park/Westlake, just blocks away from Korea Town and Downtown, where currently there are a number of new apartment developments just completed. This property, sits on an expansive, R4 zoned lot and it's also located in Trans Oriented Community (TOC) Tier 3 area which allows the development of a brand new 30 units apartment building, 6 stories and 1 basement with a roof top using the 70% Bonus Density. Only 3 affordable units are required of the 30 proposed units. Motivated seller! All information described here, is for the future construction development and not for the current 4plex.
Incredible Development Opportunity to build!!! This property will be delivered with RTI approved plans to build a new 30 unit apartment building on 6 stories and basement. The existing four-plex holds month to month tenants and the property can be vacated in approx. 3 months. Situated in the OPPORTUNITY ZONE, this property is perfectly located in the thriving revitalized area of Macarthur Park/Westlake, just blocks away from Korea Town and Downtown, where currently there are a number of new apartment developments just completed. This property, sits on an expansive, R4 zoned lot and it's also located in Trans Oriented Community (TOC) Tier 3 area which allows the development of a brand new 30 units apartment building, 6 stories and 1 basement with a roof top using the 70% Bonus Density. Only 3 affordable units are required of the 30 proposed units. Motivated seller! All information described here, is for the future construction development and not for the current 4plex.