Auction Information
Online Bidding Site0.3 Acres in Los Angeles, CA
Attractive development opportunity for up to 90 affordable housing units with preliminary plans in a premier position within Los Angeles.
Excellent Koreatown location just south of Wilshire Boulevard near abundant amenities and major employment centers.
Within blocks of Metro Rail Stations for the B line at Wilshire/Vermont, and D line at Wilshire/Western and Wilshire/Normandie.
Allows for up to 90 affordable housing units by AB 2334 state law, which provides bonus incentives for 100% affordable housing projects.
Newmark is pleased to present the opportunity to acquire the 854 S Normandie Avenue, Los Angeles, CA 90005 (hereafter the Property, Project), an approximately 13,239-square-foot land development site zoned R4-2 on a corner lot at the intersection of Normandie Avenue and James M. Wood Boulevard, which allows for up to 90 affordable housing units using AB 2334. The Property ha...
Newmark is pleased to present the opportunity to acquire the 854 S Normandie Avenue, Los Angeles, CA 90005 (hereafter the Property, Project), an approximately 13,239-square-foot land development site zoned R4-2 on a corner lot at the intersection of Normandie Avenue and James M. Wood Boulevard, which allows for up to 90 affordable housing units using AB 2334. The Property has preliminary plans for an affordable housing project consisting of 90 units using modular construction.
Located in the neighborhood of Koreatown, the Property is very centrally located in the Los Angeles market with Century City/ Beverly Hills to the West, Downtown Los Angeles to the East, and Hollywood to the North. With its central location in the Koreatown market, Los Angeles most densely populated neighborhood, 854 S Normandie Avenue is within walking distance of five neighborhood-serving shopping malls, an abundance of restaurants and nightlife, and over 7.5 million square feet of Class A office space. Additionally, being directly adjacent to Wilshire Boulevard, Olympic Boulevard, Metro B Rail Line, and Metro D Rail Line, the area offers access to major thoroughfares and public transit lines to major employment centers in Downtown Los Angeles (2 miles), Miracle Mile (4 miles), Hollywood (4 miles), Beverly Hills (5 miles), and Century City (7 miles).
Property tours are available by appointment only. Please contact the listing broker to schedule.
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