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$4,650,000
854 S Normandie Ave Los Angeles, CA 90005
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$4,650,000
Est. payment /mo
0.3 Acres Lot
Active
854 S Normandie Ave Los Angeles, CA 90005
UPDATED:
10/09/2024 07:01 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24-447547
Lot Size 0.304 Acres
Acres 0.304
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
Location
State CA
County Los Angeles
Area Mid-Wilshire
Zoning LAR4
Exterior
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Special Listing Condition Standard
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Listed by Newmark Residential