1411 W 11Th St Los Angeles, CA 90015
Multifamily or mixed-use development opportunity in Pico Union neighborhood.
Lot size:
0.29 AcresProperty Features for 1411 W 11Th St
General Information
- Standard status
- Active
- Lot size
- 0.29 Acres
Source:
Corcoran
Listing Agent: Dario Svidler
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Pico Union Development Opportunity
Located in the Pico Union neighborhood of Los Angeles, this development opportunity comprises two contiguous parcels totaling approximately 12,678 square feet of flat land. The combined dimensions are 100 by 126 feet on street-to-street lots. Both parcels are improved with income-producing apartment buildings. The site qualifies for Transit Oriented Communities Tier 2, the Mixed Income Incentive Program (MIIP) Opportunity Corridor, and the Citywide Housing Incentive Program (CHIP). These programs allow for more units, higher floor area ratio, greater height, and significant reductions or elimination of parking requirements for projects that include affordable housing. Under the State Density Bonus Law (AB 2345 and AB 1287), developers who set aside at least 10% of units for very low-income tenants or 20% for low-income tenants can combine state and city bonuses to achieve more density and additional incentives. Projects that are 100% affordable may be eligible for unlimited density and no parking requirements. Executive Directive 1 (ED1) also allows 100% affordable housing projects to qualify for expedited, fast-track city approvals. The site is strategically located near major transportation routes and key city amenities. Listing includes two APNs: 5137-012-008 and 5137-012-009.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Residential land & home ...
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.2723928
- Latitude
- 34.0466119
Nearby Similar for Sale
FAQs
What type of property is this?
Residential land & home lot - Multifamily or mixed-use development opportunity in Pico Union neighborhood.
Where is this residential land & home lot located?
The property is located at 1411 W 11Th St Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: - Significant redevelopment potential due to TOC Tier 2, MIIP, and CHIP eligibility.; - Maximize density and incentives through the State Density Bonus Law by including affordable housing.; - Potential for unlimited density and no parking for 100% affordable housing projects.