Los Angeles, CA 90005 854 S Normandie Avenue
$4,650,000
Presented By: David Ghermezian with Newmark Residential;
- MLS# 24447547
- 10/01/2024
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
Home Details
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
Presented By: David Ghermezian with Newmark Residential;
Interior Features for 854 S Normandie Avenue
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Fireplace Y/NNo
Heating Y/NNo
General for 854 S Normandie Avenue
Additional Parcels Y/NNo
Attached Garage No
Carport Y/NNo
CityLos Angeles
CountyLos Angeles
Directions854 S Normandie Avenue has an ideal location in the Koreatownmarket for a new multi-family development: adjacent to majorcommercial thoroughfares, near Metro Subway lines, good access tomain employment
Electric On Property Y/NNo
Full Baths
Garage Y/NNo
HOANo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Lot Size Square Feet13239.0
Lot Size UnitsSquareFeet
MLS AreaC17 - Mid-Wilshire
MobileHomeRemainsYNNo
New ConstructionNo
Property Attached Y/NNo
Property TypeLand
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
ViewNone
Waterfront Y/NNo
ZoningLAR4
Exterior for 854 S Normandie Avenue
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.3039
Lot Size Area13239.0
Lot Size SourceOwner
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking0.0
Additional Details
Price History
Hal Schlegel
Broker Associate