518 S Park View Street
Los Angeles, CA 90057
0.17 acres | #SR25003697
Description
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.
Property Details
- Lot DescriptionNearPublicTransit
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$3,100,000
- MLS #SR25003697
- Property SubtypeQuadruplex
- MLS #SR25003697
- Cost3100000
- Acres0.1742
- Utility SourcePublic
- Year Built2025
- Parking Spaces27
- Stories6
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Aristide Buhoiu (#F207013983)
Listing Office: Royal Estate Properties (#F8612001)
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