Description

Maher Commercial Realty is proud to present for sale 726-740 Hartford Ave, a rare high-density development opportunity perfect for a developer utilizing LA City and State Incentives like ED1 and AB 2334. Project density is only limited by construction type choice, as AB 2334 allows for unlimited density, and the base zoning has no height limitation. The City of Los Angeles requires 100% affordable projects to be approved via a ministerial path, without a lengthy entitlement process. As a 100% affordable project, rents are limited to approximately $1,777 for Studios and $1,920 for 1 Beds which allows a developer to achieve a compelling rent per square foot if units are efficiently designed. No parking is required as the project is located close to transit. The location is within a half mile of LA Live/Crypto Area, and DTLA. Koreatown is a short 5 minute drive to the east, and is in close proximity to the 110, 10 and 101 freeways. The project can offer residents a unique urban lifestyle with access to cultural amenities, employment, entertainment, and education opportunities without the need to rely on automobiles. Downtown LA remains city’s largest employment cluster, providing 16% of its jobs, and 47% of its office space. Downtown is home to over 90,000 residents, making it one of LA’s most populous neighborhoods, with over 25,000 new residential units delivered since 2010. The immediate area around the project is home to many USC students and young professionals and is walkable to two popular concert venues. This is an ideal location to purse an ED1 project, a developer can deliver a product affordable to residents who benefit from Downtown LA amenities and access to transit.

Property Features:

  • List Price: $6,500,000
  • Lot Size: 18,705 Sq.Ft.
  • Zoning: R5(CW)-U/6
  • Base Density: 93 Units
  • TOC 3 Density: 159 Units
  • TOC 4 Density: 168 Units
  • ED1 Density: +/-225 Units
  • Price Per Sq.Ft.: $348
  • Price Per Buildable Door: $28,888
  • Entitlement Status: Preliminary plans in place for 112 Units
  • Parking: No parking required per AB2097, due to proximity to major public transit
  • Existing Improvements: Graded lot, Previous structures demolished

Property ID

726-740 Hartford Avenue, Los Angeles

Property Type

Land

Status

For Sale

Price

$6,500,000.00

Additional Features

N

los angeles land for sale

N

los angeles redevelopment opportunity

N

los angeles residential building

N

los angeles residential development

N

los angeles residential real estate

N

maher commercial realty


Agents

Oron Maher

Oron Maher

Director Broker

  • (310) 464-1453
  • Oron@MaherCR.com
  • MaherCR.com
Jeremy Shore

Jeremy Shore

Senior Investment Associate

  • 310-464-1456
  • Jeremy@MaherCR.com
  • MaherCR.com

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