Global Platinum Properties is proud to present an advantageous development/investment property in the heart of Koreatown priced at only 62k per buildable unit. * All units may be delivered vacant * . The subject 9,417 SF lot is in an R4-2 zone with the benefits of TOC (Tier-3) & "Opportunity Zone" designations. Per LADBS, 40 units can be built using the TOC designation and 23 units by right. There are currently 2 structures on the property, totaling 4,940 SF and 5 units. The current improvements can provide cash flow during the entitlement process. Preliminary Plans call for 40 units (4 Affordable) and 33,700 SF of floor area in 6 levels of residential over 1 level of ground floor parking level and 1 level of semi-subterranean parking for a total of 31 parking spaces. The proposed unit mix includes 8 Junior 1-bedrooms, 12 Larger 1-bedrooms, and 20 2-Bedrooms units. Walking distance to Wilshire/Vermont Metro Station (0.4 mi), Restaurants and bars in Koreatown!
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