Rare opportunity to purchase a 1900 Victorian Tudor home as a renovation project with Harvard Heights views of the Downtown skyline from the rear of the lot or build multiple units on one of the first streets ever established in Koreatown, Irolo Street. Located near the epicenter of major redevelopment projects in Koreatown thanks to Los Angeles’ incentive programs for this area. Pedestrian friendly w/major METRO bus stops & rail lines within a short distance. The property falls within the Transit Oriented Communities (TOC) incentive program area and the parcel has been designated a R3 Tier 2, possibly allowing for up to 60% in density bonus. The “by right” unit count is 7 units. Utilizing the TOC Tier 2 density bonus incentives program, the total unit count could reach 13 units w/ 9% set aside for extremely low-income units. There are additional incentives such as FAR, height & parking that may be allowed when using TOC. This is a trust sale, not subject to court confirmation.
|Address:||1121 IROLO Street|
|Lot Square Feet:||0.136 acres|