$4,650,000
0.30 Acre Lot

854 S Normandie Avenue, Los Angeles, California 90005

  • Land Property Type
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

Basic Details
Land
For Sale
24447547
$4,650,000
None
0.30 Acre
Active
Features
$0
Address Map
CA
Los Angeles
Los Angeles
90005
Normandie
854
Avenue
854 S Normandie Avenue has an ideal location in the Koreatownmarket for a new multi-family development: adjacent to majorcommercial thoroughfares, near Metro Subway lines, good access tomain employment centers, and a part of well established residentialneighborhood with good demographics and abundance of amenities.
C17 - Mid-Wilshire
S
LAR4
Additional Information
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$0
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2024-10-01
Broker/Agent Information
Newmark Residential
David Ghermezian
Listing Information
CLW-X44069
CLW-X70462
Active
2024-12-05T03:37:47Z
CRMLS
: Standard
2024-10-01T00:00:00Z
Agent info
Ray Millman
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Contact Agent
Contact Us
ray@millmanteam.com 310.375.1069