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944 & 948 Dewey ave 0.27 Acres of Commercial Land Offered at $5,000,000 in Los Angeles, CA 90006

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Investment Highlights

Transit Priority Area in the City of Los Angeles
Wilshire Center/ Koreatown Redevelopment Project

Los Angeles State Enterprise Zone
High-Medium Residential (General Land Use)

Executive Summary

Ready to Issue (R.T.I.) - 51 Unit Development
One block from W Olympic Blvd.
Central Koreatown location.
51-Unit Apartment Mix:
Thirty-Six (36): Studios
Twelve (12): 1 Bd w/ 1Ba
Three (3): 2 Bd w/ 1Ba

944 Dewey - brochure

Property Facts

Price	$5,000,000	Property Subtype	Commercial
Sale Type	Investment	Proposed Use	Apartment Units
No. Lots	1	Total Lot Size	0.27 AC
Property Type	Land	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R4-1

Price	$5,000,000
Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Apartment Units
Total Lot Size	0.27 AC
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R4-1

1 Lot Available

Lot

Price	$5,000,000	Lot Size	0.27 AC
Price Per AC	$18,438,889.83

Price	$5,000,000
Price Per AC	$18,438,889.83
Lot Size	0.27 AC

Description

Approved construction plans included 4 Stories Residential (TYPE V-A) over one story parking (TYPE I-A) Basement: 1 Story (TYPE I-A) T.O.C.: Tier 3 Allowed: 51 Units /30 Units of Base Unit + 21 Units of Bonus Units 11,812 Sq. Ft./400 = 30 Units, 30 Units x 70% = 21 Units; Provided: 51 Units Building Height Proposed: 58'-4' (Not including 4-0" of parapet) from grade plane Occupancy Group: R-2 (51 Unit Apartment) 5-2 (Ground Floor & Basement Parking)

1 1

Very walkable

80/100

Moderately drivable

70/100

Exceptional public transit

90/100

Fairly bikeable

50/100

Source: Local Logic^®

(213) 700-6780

Contact

Mark Hong
KORUS Real Estate

Listing ID: 35933126
Date on Market: 5/21/2025
Last Updated:
Address: 944 & 948 Dewey ave, Los Angeles, CA 90006

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944 & 948 Dewey ave

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