1050-1056 S Norton Ave - Commercial LAND FOR SALE


Los Angeles, CA 90019- Arlington Heights18,561 SF
$4,200,000 USD
310-497-4362
1050-1056 S Norton Ave, Los Angeles, CA for Sale
$4,200,000 USD
Commercial LAND - FOR SALE
1/5
18,561 SF

1050-1056 S Norton Ave
Los Angeles, CA 90019
Arlington Heights


HIGHLIGHTS

  • 102-Unit ED1 100% Affordable Housing Development, RTI at COE
  • Unit Mix: 27 Studios, 71 One-Bedrooms, and 4 Two-Bedrooms
  • Approximately 18,533 SF combined lot, Approximately 42,908 SF proposed building area
  • 5-story Type III-A residential construction
  • Zero parking requirement / transit-oriented design
  • Strong access to transit, employment centers, retail, and daily amenities

OVERVIEW

PartnersCRE is pleased to present the opportunity to acquire 1050 & 1056 S Norton Avenue, a 102-unit, 100% affordable apartment development site located in Los Angeles' Mid-Wilshire / Olympic Park submarket within the Country Club Park HPOZ. The project is situated on an approximately 18,533 SF lot in a central Los Angeles infill location near Mid-Wilshire, Koreatown, Hancock Park, and the greater Wilshire corridor. The proposed development is designed as a 5-story, Type III-A residential apartment building consisting of 102 total units, approximately 33,833 SF of rentable area, and approximately 42,908 SF of proposed building area. The project is being developed under Executive Directive 1 as a 100% affordable housing project pursuant to AB 1763 and AB 2345, allowing for unlimited density and zero parking within proximity to a major transit stop. The project benefits from significant development incentives, including zero parking, additional height allowances, and FAR increase. The plans also reference off-menu incentives for a 100% reduction in open space and tree reduction subject to approval. Located within an established residential neighborhood, the site provides strong access to transit, employment centers, retail, and daily amenities throughout Central Los Angeles. With a large combined lot, 102-unit affordable housing program, and ED1 entitlement pathway, this offering presents a strong opportunity for developers seeking scale in a supply-constrained Los Angeles market.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/ACRE

$9,856,864/AC

PRICE/SF

$226 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

102-Unit ED1 100% Affordable, RTI at COE

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

Apartment Units, Apartment Units - Subsdzd

LAND ACRES

0.43 AC

LAND SF

18,561 SF

OFFSITE IMPROVEMENTS

-

ZONING

R3-1-O-HPOZ

APN/PARCEL ID

5081-010-009,5081-010-010

ASK ABOUT THIS PROPERTY

Jordan PetitoKW Commercial Beverly HillsMore Info
310-497-4362

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Jordan PetitoKW Commercial Beverly HillsMore Info
310-497-4362

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.