BEVERLY Blvd
Los Angeles, CA 90004
Corner Lot Affordable/Multifamily Development · Land For Sale · 0.53 AC

Compass Commercial has been exclusively retained for the sale of 3301 Beverly Blvd. & 113 N Hoover St. in Rampart Village neighborhood of the City of Los Angeles. Corner lot multifamily / affordable housing development opportunity in the prime Koreatown submarket, adjacent to Downtown LA is bounded to the south by Beverly Boulevard, to the west by a commercial building, to the north by a multi-family residence, and to the east by North Hoover Street. The building fronts Beverly Boulevard which has many commercial buildings. Directly to the north is a residential neighborhood.  The property comprises approximately 23,235 square foot lot area zoned C2-1 & R4-1.  3301 Beverly Blvd. & 113 N Hoover St. is not in a historical preservation zone and allows building up to 211 VLI / affordable housing. TOC Tier 3 incentives allow 10% ELI, 14% VL or 25%. to potentially build up to 101 units totaling 80,556 square foot of building. Current tenants are MTM and units can be delivered vacant.  Proposed building with roof deck common open space will feature a great panoramic view of downtown LA, and city lights. Conveniently located just minutes away from Downtown LA, USC, LA Live, Convention Center, Staples Center, Shopping Center, Retail Strips, 10, 110, & 101 freeways. 3301 Beverly Blvd. & 113 N Hoover St. is very Walkable so most errands can be accomplished on foot. The property is a 11-minute walk from the Metro Red Line (802) at the Vermont / Beverly Station stop. Nearby parks include Shatto Recreation Center, Lafayette Park and Bellevue Park.