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424 South Union Avenue

Los Angeles CA 90017

7007 sq. ft.
Land
Currently for sale - view listing

Overview

We are pleased to present a 7,011 SF redevelopment site located at 424 S Union Avenue in Los Angeles, California. The subject property is situated in a good Westlake location just outside of Koreatown, north of Wilshire Boulevard and east of S Alvarado Street. This offering is positioned on one (1) parcel totaling 7,011 SF of land. The property has favorable LAR4-1 zoning which allows for the development of seventeen (17) units by-right and an FAR of 3:1 with no height limitation or story limitation. In addition to this, the property falls under TOC tier 3, providing a significant amount of development incentives. This site is an ideal affordable (ED1) development). With TOC a developer can build up to thirty-one (31) total potential units with an increased FAR of 4.5:1. Development is surrounding the immediate area with several notable projects proposed and under construction nearby. One of these projects is a seven-story edifice with 94-apartments proposed at 1438 Miramar Street. Right across the street at 425 S Union Ave, a 38-unit apartment building is proposed to replace a fourplex. Tenants will love living in a major transportation hub of Los Angeles, adjacent to some of the trendiest retail, restaurant, and entertainment amenities in Koreatown. Situated just outside of Koreatown, this offering presents an excellent opportunity for an astute developer to capitalize on favorable zoning by building up to thirty-one (31) units and an ideal affordable (ED1) housing project.

Features

7007 sq. ft. lot size
Land

Happy sellers in Los Angeles

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Local market activity for land plots in Los Angeles

In the last 12 months, 1 land similar to 424 South Union Avenue, have been sold.

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Sales:
(619) 566-0008
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