Approved RTI Plans for a 19-Unit Apartment

Ideally positioned 0.19-acre parcel boasting ready-for-development land on its fully usable, raw acreage in Los Angeles, California. 930 S Mansfield Avenue presents to the market, level land with fully approved RTI plans for a four-story, 24,122-square-foot, 19-unit apartment complex in one of the most desirable and sought-after communities in Los Angeles. This project is currently a vacant lot that has been recently demolished to remove all existing structures and improvements. The acreage is zoned R3-1, Multifamily Residential Use, and is situated in a Transit Oriented Community (TOC) Tier 3 area. This allows for up to 19 units total to be developed at this location, including two affordable units. Each unit can feature a two-bedroom, two-bathroom layout and have an average square footage of about 766 square feet. Centrally positioned in Miracle Mile and Mid-Wilshire, the soon-to-come development asset could offer its future tenants a quiet, residential feel while being minutes away from nearby transportation, commercial, and leisure. In addition, the proposed multifamily project features parking accommodations on the ground level as well as subterranean, ensuring ample parking for residents and visitors. The roof deck will provide an open space for unwinding, while the recreation room will serve as entertainment. 930 S Mansfield Avenue is optimally situated with exceptional proximity to numerous transportation routes and key hubs. It is favorably positioned 20 minutes from the popular Los Angeles International Airport (LAX), 15 minutes from the Union Station Metrolink commuter rail, and 13 minutes from the Los Angeles Amtrak, providing sought-after connectivity throughout the state. Future tenants and their visitors can appreciate the ease of access to major thoroughfares, Hollywood Freeway, and State Route 2, both located less than 4 miles away. Beneficially surrounding 930 S Mansfield Avenue is a dense population of 1,128,468 residents living within a 5-mile radius. This robust population brings in an average household income of more than $95,000 and lives in 79% of renter-occupied households, making this location primed for multifamily development. Acquire this suburban acreage with approved RTI plans in place and transform it from raw land to a multi-tenant apartment building primed for this renter-centric market. Property tours are available by appointment only. Please contact the broker to schedule.