1627 Oak St
Los Angeles, CA 90015

Current parking lot accommodates up to 21 vehicles. Corner lot with planning department and historical preservation overlay district approvals to build 11 unit multi-family residential project. The entitlements include 34 bedrooms with en-suite bathrooms for maximum revenue potential. The project takes advantage of TOC Tier 2 density bonus and is therefore required to set aside 1 unit for Extremely Low Income (ELI) household occupancy for a period of 55 years. The incentives achieved through the TOC application include 1) a front yard set back reduced to 0-feet (in lieu of 15 feet normally required) along 17th Street and 2) a 20% reduction to the open space requirement such that only 1,550 square feet are required instead of the customary 1,925 square feet. The open space is accommodated through the use of a rooftop deck with unobstructed views to DTLA over the 110 FWY and the Hollywood Hills across KoreaTown. This will be a 4-story structure with parking at grade for 11 vehicles on a standard corner lot.