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$ 2,495,000
Est. payment | /mo
8,124 Sqft Lot
$ 2,495,000
Est. payment | /mo
8,124 Sqft Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26873695
Lot Size 8,124 Sqft
Acres 0.1865
Property Description
We are pleased to present the San Marino Villas, a rare opportunity to acquire a Ready-to-Issue (RTI) 45-unit development project at 2811 San Marino Street, centrally located in Koreatown. Offered at $2,495,000, the project represents an attractive basis of approximately $55K per door. Existing improvements consist of 4 units to be delivered vacant, providing the buyer with a clear path toward redevelopment. The proposed project consists of 36 base units + 9 ADUs, with a unit mix of 13 two-bedroom units, 23 one-bedroom units, and 9 studios. TOC project - NOT ED1, with 11% of the base units designated Extremely Low Income. The project will be delivered RTI WITH ALL PERMIT FEES PAID! Plans call for a 7-story development featuring Type III-A construction over Type I-A, seven residential stories above two levels of subterranean parking, plus a rooftop deck for resident enjoyment. Ideally situated in the heart of Koreatown near shopping, dining, employment, transit, and other neighborhood amenities. Approved architectural plans are available for review. Do not miss this opportunity to acquire a ready RTI project with all permit fees already paid. Begin construction without starting the permitting process from scratch! Buyer is advised to independently verify all information, including but not limited to existing improvements, zoning, TOC incentives, affordability requirements, plans, permits, RTI status, development potential, square footage, and all other project details with the appropriate professionals and governmental agencies. Contact listing agent for additional information and architectural plans.
Location
State CA
County Los Angeles
Area Mid-Wilshire
Zoning LAR4
Exterior
View Y/N Yes
View City
Others
Special Listing Condition Standard
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Listed by Keller Williams Beverly Hills
Nearby Locations
Chakits Krulsawat
Buyer and Sales Specialist RE.Lic# S.0168764
+1(702) 319-1092 | chakits.k@gmail.com