315 N Vermont Ave

0.29 Acres of Commercial Land Offered at $3,950,000 in Los Angeles, CA 90004

Investment Highlights

  • Can be entitled for ±60 units (per the Seller)
  • Easy access to multiple freeways including the 101, whose entrance is a block away
  • Koreatown is an established market for new, market-rate, multifamily development with high rent justification
  • Transit-oriented location directly adjacent to the LA Metro Vermont/Beverly Station
  • Centralized location allows for quick and easy access to other highly desirable neighborhoods such as Echo Park, Silver Lake and Hollywood
  • Frontage along Vermont Ave and positioning next to the Metro station on Beverly Blvd allows for nearly 180 degrees of visibility

Executive Summary

315 N. Vermont Ave is currently a transit-oriented development site for ±60 units located in the Koreatown neighborhood of Los Angeles. The entitlements are comprised of 53 market-rate units with 7 set aside for Extremely Low Income (ELI) tenants. The units are split between studio, one, and two-bedroom units, averaging 710 SF, and will include a parking space. Included in the project is ±42,650 square feet of interior residential square footage, and ±2,500 square feet of ground-floor commercial square footage.

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Property Facts

Price $3,950,000
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use Apartment Units
Total Lot Size 0.29 AC
Opportunity Zone Yes

1 Lot Available

Lot

Price $3,950,000
Price Per AC $13,854,739
Lot Size 0.29 AC

Description

Colliers is pleased to offer an all-in-one advantage to anyone looking in Koreatown, greater downtown Los Angeles area for an investment or redevelopment opportunity. Not only is 315 Vermont Avenue zoned for high-density residential or mixed-use development, it is also a prime location that offers easy access to all the restaurants and cultural events the core of Los Angeles has to offer. With access to the Metro Red Line just steps away this potential development makes for a truly unique opportunity.

Walk Score ®
Walker's Paradise (90)

PROPERTY TAXES

zoning

Zoning Code C2-1
  • Listing ID: 26839253

  • Date on Market: 10/12/2022

  • Last Updated:

  • Address: 315 N Vermont Ave, Los Angeles, CA 90004