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$ 3,100,000
Est. payment /mo
Active
518 S Park View ST Los Angeles, CA 90057
7,588 Sqft Lot
UPDATED:
01/14/2025 02:16 AM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25003697
HOA Y/N No
Year Built 2025
Lot Size 7,588 Sqft
Property Sub-Type Quadruplex
Property Description
Incredible Development Opportunity to build!!! This property will be delivered with RTI approved plans to build a new 30 unit apartment building on 6 stories and basement. The existing four-plex holds month to month tenants and the property can be vacated in approx. 3 months. Situated in the OPPORTUNITY ZONE, this property is perfectly located in the thriving revitalized area of Macarthur Park/Westlake, just blocks away from Korea Town and Downtown, where currently there are a number of new apartment developments just completed. This property, sits on an expansive, R4 zoned lot and it's also located in Trans Oriented Community (TOC) Tier 3 area which allows the development of a brand new 30 units apartment building, 6 stories and 1 basement with a roof top using the 70% Bonus Density. Only 3 affordable units are required of the 30 proposed units. Motivated seller! All information described here, is for the future construction development and not for the current 4plex.
Location
State CA
County Los Angeles
Area Krea - Koreatown
Zoning LAR4
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 27.0
Garage Description 27.0
Pool None
Community Features Street Lights
Total Parking Spaces 27
Private Pool No
Building
Lot Description Near Public Transit
Story 6
Sewer Public Sewer
Water Public
New Construction Yes
Others
Senior Community No
Tax ID 5154037030
Acceptable Financing Conventional, 1031 Exchange, FHA
Listing Terms Conventional, 1031 Exchange, FHA
Special Listing Condition Standard
Listed by Aristide Buhoiu • Royal Estate Properties • 818-445-4663
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