$ 1,499,000
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$1,499,000
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About the Listing CLW-X80730 - CLW-C120691
Shovel ready RTI for 17-unit development opportunity in a prime Los Angeles location of Koreatown. Gross rents can exceed 35k monthly. The property is currently improved with a fully vacant duplex and comes with approved plans for a (5) five-story, approximately 12,092-square-foot multi-unit residential building designed for efficiency, cost control, and long-term value. The project has been engineered to minimize construction costs without compromising quality. Features include on-grade parking to avoid expensive subterranean excavation, an exterior egress balcony that reduces interior corridor and wall requirements, and a wood-frame staircase in lieu of a steel system. Underground electrical service from the power pole eliminates the need for an on-site transformer, further streamlining development.Unlike many Los Angeles projects, this development requires only two affordable (ELI )Extremely low Income units, making it a rare and attractive option in today's market. The design also includes premium elements such as two residences with double-height ceilings and loft spaces, creating a modern, open-concept living experience. Additional highlights include six on-site parking spaces and a rooftop area. With RTI approval in hand and a cost-efficient, well-designed plan already in place, this project offers a clear and predictable path to development in one of LA's most competitive markets.
Listing Highlights
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
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Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: LAR4
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Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5080012019
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3030 W 12th Pl Los Angeles, CA 90006
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