West 27th Development Opportunity
- Jefferson Park CA
West 27th is an exciting opportunity to develop a multi-family project in the up and coming neighborhood of Jefferson Park; a district which is quickly improving between Culver City and Downtown Los Angeles. Jefferson Park is just north of Leimert Park, (rated 2016 Curbed Cup Neighborhood of the Year, CurbedLA.com), and just east of West Adams, (rated 2015 Curbed Cup Neighborhood of the Year, CurbedLA.com). Jefferson Park’s attractive location and historic ambiance has made it a top choice for buyers and renters alike.
The offering consists of three lots, totaling 40,090 sq. ft., the zoning is R3-1, allowing for up to 51 units by right, with a 3 to 1 FAR (Floor Area Ratio) and a 45’ height restriction. The project will allow up to 69 units, when density bonuses are applied through the use of affordable housing.
One of the three lots is a historic home, designated by the City of Los Angeles, as a Historic Cultural Monument. This historic designation does not impact the property’s density, as the full density is allowable on the two remaining lots when the lots are tied together. The inclusion of the beautiful historic home will make this development unlike any other. The two remaining lots are improved with a Triplex and a Quadplex, both occupied by month to month tenants.