IN ESCROW! Developers — Looking for An Opportunity in Koreatown?

12,800 S.F. Lot Zoned R3-1 in a Tier 3 TOC

328-332 North Alexandria Avenue 

Los Angeles, CA 90004

Tiao Properties is offering a unique investment opportunity — a nearly 13,000 square-foot lot, zoned R3-1 in a Tier 3 TOC in Koreatown.

Up to 30 units can be built on this lot, with its current zoning.

For your consideration:

  • Development opportunity consisting of 2 parcels, totaling 13,800 square feet of land
  • Current R3-1 zoning & Tier 3 density increase will allow a developer the opportunity to build up to 30 Units
  • Located in Los Angeles’ highly sought-after Koreatown neighborhood, just north of Beverly Boulevard between Normandie Avenue & Kenmore Avenue, a location that attracts high-end renters and has over 600,000 people living within a 3-mile radius
  • Current structure at 328 N Alexandria has eight occupied units consisting of singles and one-bedrooms, one of the singles can be delivered vacant.
  • 332 N Alexandria consists of a duplex, one of the units will be delivered vacant.
  • Within walking distance to the Metro Red Line at the Vermont/Beverly stop; an easy commute to both Hollywood or Downtown Los Angeles
  • High walk score of 85 in close proximity to schools, grocery stores, dining destinations and employment opportunities; with single family homes worth over $850,000 within a three-mile radius, Koreatown is a highly desirable submarket with rents increasing substantially year over year

Asking price: $2.5 million.

For more information and offering memorandum, please contact Will Tiao at (323) 363-1096. CalBRE 01918965

Post a Comment