1331 S Vermont Ave - Multi-Family Development Site

Prime multi-family or mixed-use development purchase opportunity. Current zoning allows 45 market units by right (verify with City of Los Angeles). Tier 3 TOC encourages the construction of affordable housing near bus and train stations with a 70% increase in density/ 50% increase in FAR. Also ideal for owner/user restaurant/catering business (existing grease trap clarifier). Two existing buildings with abundant parking. Block-to-block parcel between Vermont Avenue and New Hampshire Avenue. Prime location just south of Pico Boulevard and 1-mile west of Downtown Los Angeles. 1.5-miles north of USC and 2.1-miles north of the Memorial Coliseum and the $1-billion George Lucas Museum of Narrative Art (estimated 2023 completion. Southeast gateway to Mid-Wilshire and Koreatown. Also available for lease (call broker for details).