705-715 S Serrano Ave | Los Angeles, CA 90005
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705-715 S Serrano Ave
Los Angeles, CA 90005
705 S Serrano · Specialty Property For Sale · 4,400 SF
Investment Highlights
- R4-2 TOC Tier 3 Zoned 27,000 SF Corner Lot
- Unlimited Height, by right
- Market AVG is Approximately $4/SF for Luxury Apartment
- BUILD UP TO 116 UNITS
- Perfect location for High End Condominum
- A Premier Koreatown Location
Executive Summary
The last remaining prime development site in the best part of Koreatown. It is a true game-changer location, a site to redefine the residential experience in densely populated, diverse, and vibrant Koreatown which only comes once in a lifetime.
Once completed this can easily be recognized as a “landmark” building in the heart of one of the hottest rental markets in greater Los Angeles. The offering is a 2-parcel assemblage (APN : 5093-011-008, 5093-011-007) with a total combined lot size of 27,000 SF sitting on R4-2, TOC Tier 3 Zoning with No Height Limit, and just an SFR on each lot. Developers can build 96 units by right and 116 units, 118,000SF with 6 stories using the TOC density bonus.
It is a perfect project to elevate the new standard of apartment living in Koreatown or for high-end condominiums the area is currently lacking due to the abundance of new apartments.
Easy walk to Ralphs, Aroma Golf Range, Chapman Plaza, Madang Plaza and some of the city’s best shopping, dining, and entertainment.
Few steps to Metro Station at Wilshire and is centrally located with easy access to Hollywood, Beverly Hills, and DTLA.
Once completed this can easily be recognized as a “landmark” building in the heart of one of the hottest rental markets in greater Los Angeles. The offering is a 2-parcel assemblage (APN : 5093-011-008, 5093-011-007) with a total combined lot size of 27,000 SF sitting on R4-2, TOC Tier 3 Zoning with No Height Limit, and just an SFR on each lot. Developers can build 96 units by right and 116 units, 118,000SF with 6 stories using the TOC density bonus.
It is a perfect project to elevate the new standard of apartment living in Koreatown or for high-end condominiums the area is currently lacking due to the abundance of new apartments.
Easy walk to Ralphs, Aroma Golf Range, Chapman Plaza, Madang Plaza and some of the city’s best shopping, dining, and entertainment.
Few steps to Metro Station at Wilshire and is centrally located with easy access to Hollywood, Beverly Hills, and DTLA.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.62 AC |
| Sale Conditions | Redevelopment Project | Building Size | 4,400 SF |
| Property Type | Specialty | No. Stories | 2 |
| Property Subtype | Residential Income | Year Built | 1923 |
| Building Class | C | Parking Ratio | 2.73/1,000 SF |
| Sale Type | Investment |
| Sale Conditions | Redevelopment Project |
| Property Type | Specialty |
| Property Subtype | Residential Income |
| Building Class | C |
| Lot Size | 0.62 AC |
| Building Size | 4,400 SF |
| No. Stories | 2 |
| Year Built | 1923 |
| Parking Ratio | 2.73/1,000 SF |
zoning
| Zoning Code | R4-2 (15,000 Square Feet R4-2 Zoning with TOC Tier 3 Density Bonus) |
| R4-2 (15,000 Square Feet R4-2 Zoning with TOC Tier 3 Density Bonus) |
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