4065 Oakwood Ave, Los Angeles, CA 90004 – 68 Unit Shovel Ready Development Site
Description
The subject property is a fully entitled for a 68 unit +/- 83,000 square foot ground-up development opportunity located in an Opportunity Zone in the Koreatown neighborhood of Los Angeles. The project may qualify for “80/20” tax credits, Buyer to verify. The entitlements call for 54 market-rate and 14 affordable units. These large units average 1,060 square feet. The building is uniquely U-shaped, allowing for a large open courtyard for residents to enjoy.
The immediate neighborhood is going through a rapid transition with a number of multi-family residential and commercial developments recently completed or under construction. A 67 unit mixed use project is planned a block north on the intersection of Beverly Boulevard and Berendo. To the east, a 490 unit mixed use project is planned. A 121 unit project was just completed to the south, on Mariposa and 3rd Street.
The location is within walking distance of the Beverly/Vermont Metro and in close proximity to trendy Los Feliz and Silverlake, and is accessible to Hollywood and Downtown LA via the 101 Freeway. Nearby food and culture amenities include immensely popular Sqirl, Mad Ave LA Gallery, Cafecito Organico, The Dog Café, and Gabba Gallery.
Located in an Opportunity Zone. Project may Qualify for “80/20” tax credits.
Lowest Price Per Square Foot RTI Site on the market.
Project will be delivered shovel ready. All fees have been paid for except for the cost of pulling permits and the park fee.
Potential Site for a Co-Living Operator, Developer may be able to add additional bedrooms with relative ease of changing floor plans.
Property May Qualify for Low-Income Housing Tax Credit.
There is a moratorium on developments on more than 15,000 SF of land in the immediate area. Future developments of this size would require a variance.
Address
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Address 4065 Oakwood Ave, Los Angeles, CA 90004, USA
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Country United States
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Postal code/ZIP 90004
Overview
- Property ID 1109
- Price $7,124,985.00
- Property Type Multi Family
- Property status Sold
- Size 83,000 SqFt
- Zoning 80/20
- Entitlement Status Property May Qualify for Low-Income Housing Tax Credit.
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Contact
Oron Maher
Property Agent
Oron Maher is a leading commercial real estate veteran and the founder of Maher Commercial Realty, a Beverly Hills-based brokerage specializing in investment sales and leasing transactions across all property types within the Greater Los Angeles Area. With nearly two decades of experience representing high-profile buyers and sellers in the region, including major institutions and REITS, private family offices and individual investors, Oron has arranged over a billion dollars in transactions throughout his career and brings a wealth of knowledge, expertise and an unmatched level of client service to the Greater L.A. market. Oron Maher’s firm’s approach includes a customized approach to each opportunity in order to highlight its unique value, leading to record-breaking sales and long-term client relationships. Prior to launching his firm, Oron served as a broker and national sales leader for BRC Advisors. Prior to that, he spent nine years at Coldwell Banker Commercial, where he oversaw a team ranked in the top one percent of commercial brokers in the nation within the Coldwell network. Oron’s extensive experience as a former real estate attorney, investor, developer and community leader has fortified his work in building a successful brokerage in Los Angeles. Oron Maher holds a bachelor’s degree in business management from California State University, Long Beach and a juris doctorate from the San Francisco Law School. Oron’s entrepreneurial approach to Maher Commercial Realty blends his deep knowledge of the industry with a versatile skillset to secure optimal results across the board. An active community member, Oron has served on more than two dozen non-profit and for-profit boards and chaired the real estate section of the Beverly Hills Bar Association. His passion for giving back and empowering young adults and aspiring businesspeople through mentorship, networking and education led Oron to co-create The Maher Foundation, a nine-month fellowship program which provides development opportunities to recent graduates. BRE#01299093