1415 W 11th St 0.29 Acres of Commercial Land Offered at $1,950,000 in Los Angeles, CA 90015

JUST REDUCED!
PartnersCRE is pleased to present a multifamily or mixed-use development opportunity at 1411 & 1415 W 11th Street in the dynamic Pico Union neighborhood of Los Angeles. These two contiguous parcels total approximately 12,678 square feet of flat land, with combined dimensions of 100 by 126 feet on street-to-street lots. Both parcels are improved with income-producing apartment buildings and offer significant redevelopment and value-add potential.
Development Paths and Incentives:
TOC Tier 2 / MIIP / CHIP:
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 more units, higher FAR, greater height, and major reductions or elimination of parking requirements for projects with affordable housing.
State Density Bonus Law (AB 2345, AB 1287):
By setting aside at least 10% of units for very low-income tenants (or 20% for low-income), developers can stack state and city bonuses for more density and additional incentives. 100% affordable projects can potentially achieve unlimited density and no parking requirements.
Executive Directive 1 (ED1):
100% affordable housing projects are eligible for expedited, fast-track city approvals.
Strategically located near major transportation routes and city amenities, the site is ideal for efficient development and construction. Its central location ensures high demand for new housing and supports long-term investment returns. Listing includes two APNs: 5137-012-008 and 5137-012-009.