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$ 4,650,000
Est. payment | /mo
0.3 Acres Lot
$ 4,650,000
Est. payment | /mo
0.3 Acres Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24447547
HOA Y/N No
Lot Size 0.304 Acres
Property Description
854 S Normandie Avenue is an attractive development opportunity for a developer looking to build a new multi-family project in a well established apartment market with good demographics that are becoming stronger. The property allows for up to 90 affordable housing units by using AB 2334 state law which provide multiple bonus incentives for a 100% affordable housing project. Preliminary plans have been prepared for 90 affordable housing units using modular construction, which can reduce construction timelines by approximately 50%. It's in an excellent Koreatown location just south of Wilshire Boulevard, nearby to abundant amenities. and is within blocks of Metro Rail Stations for the B line at Wilshire/Vermont, and D line at Wilshire/Western and Wilshire/Normandie
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
New Construction No
Others
Senior Community No
Tax ID 5094018001
Special Listing Condition Standard
Listed by David Ghermezian • Newmark Residential
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "