3520 W 5th Street Los Angeles, CA 90020
3 or More Options - Option 1 - Hold as conventional rental and add 2 ADUs; Option 2 - Develop-Build up to 50 potential units with AB 1287 or 26 units By-Right based on R4-2 zoning, Tier 3 TOC Zone. Density Bonus added. Opportunity Zone. (Independently verify with City Planning and/or other planning professionals) (Property Report available on request) Option 3 - Hold as conventional rental and develop later. ADU concepts based on a Consultant Schematic. ADU units and associated rents are projected. The rather conventional 50s exterior belies the interior vintage style. Unit interiors average just under 1500 SF. Most units retain vintage design touches with updated modern amenities. More like homes than apartments, the units give the sense of being in a charming Hancock Park home. A truly, one-of-a kind building. Oh, and did I mention it's smack dab in the middle of the Korea Town scene. Short distance to the iconic Chapman Plaza and public transportation. WalkScore.com: 95. Several exterior virtual pictures including the main photo showing many color options have been added to the photos along with the current interior & exterior property photos. Click on video links to see drone view. Gross income includes parking, laundry and other income in addition to projected rents for the possible addition of ADUs.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site4 Days
- MLS StatusActive
- MLS ID Number24440381
- Home Size Source N/A
- Year Built1950
- Lot Size0.243 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Community StructureDetached Carport
- Parking Spaces 10
- Number of Stories 22
- Acreage 0.243
- Garage Spaces 4
- Attached Garage No
- Zoning LAR4-2 Tier 3 TOC
- Listing Conditions Standard
Interior Features
- Cooling None
- Heating Wall Furnace
- Flooring WoodLaminateTile
Community Features
- Senior Community No
- MLS Area C17 - Mid-Wilshire