Los Angeles Home For Sale

Los Angeles Home For Sale

Exciting news for investors and developers seeking a lucrative opportunity in the heart of Los Angeles! A spectacular corner lot development opportunity in prime Koreatown has emerged, offering immense potential for those looking to capitalize on the city’s thriving real estate market. Boasting an existing building with seven units and ample parking, this property presents a remarkable chance to create a promising development with 90 affordable units. With its strategic location amidst a growing commercial hub, this property promises to be a game-changer for any savvy investor.

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Spanning over 13,000 square feet, this property’s tier 3 zoning and corner lot status make it an ideal canvas for a remarkable development project. The current building can be delivered vacant, eliminating any potential complications associated with tenant relocation. This blank slate offers developers the freedom to create a bespoke development that perfectly aligns with their vision and the demands of the market.

Los Angeles Home For Sale

One of the most enticing aspects of this opportunity is that plans have already been submitted for the development. This means that the property can be delivered “Ready to Issue”(RTI) upon the completion of necessary permit formalities. While the buyer will be responsible for the permit fees, the advantage of having the plans approved and permits underway significantly reduces the development timeline and potential hurdles.

Situated in the heart of Koreatown, this property benefits from its prime location within one of Los Angeles’ most vibrant and rising areas for development. Koreatown has experienced a remarkable transformation in recent years, attracting a significant influx of commercial and residential projects. The nearby presence of office buildings, hotels, retail establishments, and restaurants further enhances the appeal of this location.

Apart from its commercial appeal, Koreatown offers a unique and vibrant lifestyle experience. The neighborhood is renowned for its lively nightlife, boasting an array of popular bars, clubs, and entertainment venues. Residents will have easy access to a diverse range of cuisines, trendy boutiques, and cultural events, making this an incredibly desirable place to live and work.

The opportunity to acquire this spectacular corner lot development in prime Koreatown is a dream come true for investors and developers seeking to make their mark in Los Angeles’ thriving real estate market. With its tier 3 zoning, generous lot size, and existing building, this property provides a solid foundation for a promising development boasting 90 affordable units. The location’s proximity to commercial establishments, hotels, and a vibrant nightlife further adds to the allure. Don’t miss out on this chance to transform a blank canvas into an exceptional development that will shape the future of Koreatown.

854 S Normandie Ave, Los Angeles, CA 90005

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