Los Angeles, CA 90006,957 Arapahoe ST
Los Angeles, CA 90006,957 Arapahoe ST
Los Angeles, CA 90006,957 Arapahoe ST
Los Angeles, CA 90006,957 Arapahoe ST
Los Angeles, CA 90006,957 Arapahoe ST
Los Angeles, CA 90006,957 Arapahoe ST
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$ 5,495,000
Est. payment | /mo

0.59 Acres Lot


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$ 5,495,000
Est. payment | /mo
Save

0.59 Acres Lot

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 24451525

HOA Y/N No

Lot Size 0.589 Acres

Property Description

We are pleased to offer a Ready-to-Issue (RTI) Development Opportunity at 957-967 S Arapahoe Street, Los Angeles, CA. This 25,658 square foot property, spanning three lots in the Wilshire Community Plan Area, is zoned R4-1 for High Medium Residential use, ideal for a Transit Oriented Communities (TOC) Tier 3 project. Notably, two of the lots currently have existing structures, offering additional flexibility and income in preparation for a construction project. The approved development consists of a five-story, 109-unit Mixed-Income Apartment Project, with 93 market-rate units and 16 affordable units encompassing a total of around 66,040 square feet of residential Space. The project includes a well-balanced unit mix of 63 studios, 40 One-Bedroom units, and 6 Two-Bedroom units, designed to accommodate a diverse range of residents, from single professionals to small families. The building is designed with Type III-A construction over a Type I-A subterranean garage. The project benefits from AB2097, requiring no mandatory parking, but provides 60 parking spaces, including designated EV charging stations and ADA-compliant parking spaces. The property is just under a mile to the Metro Subway Station. Residents will enjoy 3,178 square feet of rear-yard open space, a courtyard, roof decks, a fitness center (ADUpossibility), and private balconies, all contributing to a well-rounded living experience. Situated in a walkable, transit-rich neighborhood, the property is close to schools, parks, retail, and public transportation. The RTI PlanChecks streamline the development process, offering a quick ramp-opportunity for Developers to quickly capitalize on the growing demand for housing in Los Angeles.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning R4-1

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 5076005007

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Jordan Petito • Keller Williams Beverly Hills
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232 W Olive Ave #20, la Habra, California, 90631, USA

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957 Arapahoe ST