$1,195,000

We are pleased to present a unique residential development opportunity at 918 S Kingsley Drive in the heart of Koreatown. The property consists of approximately 6,753 square feet of LAR4-zoned land improved with a vacant single-family residence, providing a developer with immediate site control and eliminating the need for tenant relocation. Ownership has completed substantial pre-development work and has initiated plans for a proposed 29-unit apartment development utilizing Tier 3 Transit Oriented Communities (TOC) incentives. The current plans contemplate a six-story, Type III-A residential building consisting of 29 one-bedroom/one-bathroom units. In addition to architectural plans, ownership has completed surveys and other development-related due diligence, providing a prospective purchaser with a significant head start toward advancing the project. Strategically located just three blocks south of Wilshire Boulevard and several blocks east of Western Avenue, the property offers convenient access to Metro transit, the 10, 101 and 110 Freeways, and the extensive retail, dining, entertainment and employment amenities throughout Koreatown. Surrounded by Hancock Park, Larchmont Village, Mid-Wilshire, Pico-Robertson and other established Central Los Angeles neighborhoods, 918 S Kingsley Drive presents an attractive opportunity to capitalize on continued demand for infill multifamily housing in one of Los Angeles' most centrally located residential markets. Prospective purchasers are encouraged to independently verify all zoning, TOC eligibility, plans, unit count, development standards, permits, approvals and other development potential with the appropriate governmental agencies and qualified professionals. Contact the listing broker for additional information.