Los Angeles, CA 90006,957 Arapahoe ST
Los Angeles, CA 90006,957 Arapahoe ST
Los Angeles, CA 90006,957 Arapahoe ST
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HomeSmart Realty West
$5,495,000
Est. payment /mo
0.59 Acres Lot
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UPDATED:

12/06/2024 06:53 PM

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 24451525

HOA Y/N No

Lot Size 0.589 Acres

Property Description

We are pleased to offer a Ready-to-Issue (RTI) Development Opportunity at 957-967 S Arapahoe Street, Los Angeles, CA. This 25,658 square foot property, spanning three lots in the Wilshire Community Plan Area, is zoned R4-1 for High Medium Residential use, ideal for a Transit Oriented Communities (TOC) Tier 3 project. Notably, two of the lots currently have existing structures, offering additional flexibility and income in preparation for a construction project. The approved development consists of a five-story, 109-unit Mixed-Income Apartment Project, with 93 market-rate units and 16 affordable units encompassing a total of around 66,040 square feet of residential Space. The project includes a well-balanced unit mix of 63 studios, 40 One-Bedroom units, and 6 Two-Bedroom units, designed to accommodate a diverse range of residents, from single professionals to small families. The building is designed with Type III-A construction over a Type I-A subterranean garage. The project benefits from AB2097, requiring no mandatory parking, but provides 60 parking spaces, including designated EV charging stations and ADA-compliant parking spaces. The property is just under a mile to the Metro Subway Station. Residents will enjoy 3,178 square feet of rear-yard open space, a courtyard, roof decks, a fitness center (ADUpossibility), and private balconies, all contributing to a well-rounded living experience. Situated in a walkable, transit-rich neighborhood, the property is close to schools, parks, retail, and public transportation. The RTI PlanChecks streamline the development process, offering a quick ramp-opportunity for Developers to quickly capitalize on the growing demand for housing in Los Angeles.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning R4-1

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 5076005007

Special Listing Condition Standard


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California Regional MLS (CRMLS)
Listed by Jordan Petito • Keller Williams Beverly Hills

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HomeSmart Realty West

+1(760) 607-5900

Broker | License ID: DRE#1905908

Broker License ID: DRE#1905908

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