Located in a rapidly transitioning area near Mid-Wilshire and Miracle Mile, the property consists of a duplex of 3,839 square feet on a 8,225 s.f. lot, with tremendous development potential. An Owner-User Buyer will benefit from highly leveraged financing, available in today’s financial landscape. On the other hand, a Developer could build up to 9 (nine) units, if an affordable housing component is incorporated into the overall project (at least 10% of a project -1 unit).
The City of LA provides concessions to Developers, such as 0.5 parking spaces per unit, 40% more units by right and dramatically increased F.A.R. to 4.35, along with other density incentives under the New Transit-Oriented Communities (TOC) Plan which include a new height limit of 67 feet by right.