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Ann Marie Ahern & Angel Collins

team@sellinglaluxury.com +1(310) 409-7660

$ 2,900,000

Est. payment | -/mo

0.34 Acres Lot

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$ 2,900,000

Est. payment | -/mo

Save

0.34 Acres Lot

Key Details

Property Type Vacant Land

Listing Status Pending

Purchase Type For Sale

MLS Listing ID 26672299

Lot Size 0.344 Acres

Acres 0.3444

Property Description

***BANK OWNED SALE*** 64 UNITS RTI Plans - We are excited to offer 734 S. Manhattan Place, a 15,000-square-foot TOC Tier 3 vacant lot zoned R4-2 in the heart of Koreatown. This prime development opportunity offers various possibilities, including the option to immediately begin construction on a fully approved 64-unit, seven-story project, or to explore a new design for an ED1 100% affordable housing project.The current owner has full approvals to build a 60 unit + 4 ADUs RTI (Ready-to -Issue) development. The seven-story proposed project will encompass approximately 61,639 square feet in total building area. Of the 64 units proposed, 24 will be studio units, 30 will be three-bedroom units, 6 will be four-bedroom units and 4 will be ADUs. 6 of the 64 total units will need to be dedicated to extremely low income affordable units. The plans include 33 automobile parking spaces, 49 long-term bicycle spaces and 12 short-term parking spaces. Designed with modern living in mind, each unit will appeal to a wide range of tenants, ensuring high occupancy rates and steady cash flow. Property is currently fully vacant, so no tenant relocations required. Located just two blocks from the Wilshire/Western intersection, this property offers easy access to the vibrant amenities of Koreatown and within short driving distance of Downtown LA, Hollywood, Los Feliz, Silver Lake, and Hancock Park.

Location

State CA

County Los Angeles

Area Hancock Park-Wilshire

Zoning LAR4

Exterior

View Y/N Yes

View City, City Lights

Others

Special Listing Condition Real Estate Owned

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Listed by Realty Investment Advisors, Inc.

Nearby Locations

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Ann Marie Ahern & Angel Collins

REALTOR® | Lic# 02005871 - 01711164

team@sellinglaluxury.com

+1(310) 409-7660

14140 Ventura Blvd. Suite 100, Sherman Oaks, CA 91423

734 S Manhattan Pl Los Angeles, CA 90005

Ann Marie Ahern & Angel Collins

Key Details

Location

Exterior

Others

734 S Manhattan Pl