PROPERTY IS IN ESCROW. LOOKING FOR BACK UPS. BUILD 41 UNITS: $47,200 PER UNIT, UN-ENTITLED! UNIQUE DEVELOPMENT OPPORTUNITY! SUBJECT Property is confirmed located within the brand new TOC designated qualified TIER-3 zone for a 70% DENSITY BONUS AWARD, yielding 41 residential units (10% of units Extremely low income) allowing for several on menu incentives to make this investment a monumental success! HUGE INCOME PRODUCING "UNENTITLED" lot Zoned R4-2. NO HEIGHT LIMIT! Excellent prime Koreatown adjacent location, walking distance to McArthur Park, transportation and over 50,000 SQFT OF brand new COMMERCIAL RETAIL AMENITIES. Alternatively, a 23 unit, high end condo project can be built on this site. Immediate pocket area is undergoing massive gentrification with a minimum of 750 brand new apartment and condo units under construction. OM ATTACHED.
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