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