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854 S Normandie Ave - Koreatown Affordable Housing Development Site 0.3 Acres of Residential Land Offered at $4,004,035 CAD in Los Angeles, CA 90005
Investment Highlights
- Attractive development opportunity for up to 90 affordable housing units with preliminary plans in a premier position within Los Angeles.
- Within blocks of Metro Rail Stations for the B line at Wilshire/Vermont, and D line at Wilshire/Western and Wilshire/Normandie.
- Excellent Koreatown location just south of Wilshire Boulevard near abundant amenities and major employment centers.
- Allows for up to 90 affordable housing units by AB 2334 state law, which provides bonus incentives for 100% affordable housing projects.
Executive Summary
FOR SALE: KOREATOWN MULTIFAMILY DEVELOPMENT SITE
Newmark is pleased to present the opportunity to acquire the 854 S Normandie Avenue Los Angeles CA 90005 (hereafter the “Property”, “Project”), an approximately 13,239 square foot land development site zoned R4-2 on a corner lot at the intersection of Normandie Avenue and James M. Wood Boulevard. The property is an excellent market rate apartment or affordable housing development site, and will be able to utilize development incentives from either AB 2334, ED1, and/or SB79.
Located in the neighborhood of Koreatown, the Property is very centrally located in the Los Angeles market with Century City/ Beverly Hills to the West, Downtown Los Angeles to the East, and Hollywood to the North. With its central location in the Koreatown market, Los Angeles’ most densely-populated neighborhood, 854 S Normandie Avenue is within walking distance of five neighborhood-serving shopping malls, an abundance of restaurants and nightlife, and over 7.5 million square feet of Class A office space. Additionally, being directly adjacent to Wilshire Boulveard, Olympic Boulevard, Metro B Rail Line, and Metro D Rail Line,
the area offers access to major thoroughfares and public transit lines to major employment centers in Downtown Los Angeles (2 miles), Miracle Mile (4 miles), Hollywood (4 miles), Beverly Hills (5 miles), and Century City (7 miles).
INVESTMENT HIGHLIGHTS
854 S Normandie Avenue is an attractive development opportunity for a developer looking
to build a new multi-family project in a well established apartment market with good
demographics that are becoming stronger.
- Per State of California (AB2334 and SB79) and City of Los Angeles (ED1) development incentives, there are multiple avenues for a developer utilize bonus density and bonus FAR for their project
- Property is located in the ½ mile section of Tier 1 area. SB79 is scheduled to go into effect July 1, 2026
- Excellent Koreatown location just south of Wilshire Boulevard, nearby to abundant amenities.
- Within blocks of Metro Rail Stations for the B line at Wilshire/Vermont, and D line
at Wilshire/Western and Wilshire/Normandie
Newmark is pleased to present the opportunity to acquire the 854 S Normandie Avenue Los Angeles CA 90005 (hereafter the “Property”, “Project”), an approximately 13,239 square foot land development site zoned R4-2 on a corner lot at the intersection of Normandie Avenue and James M. Wood Boulevard. The property is an excellent market rate apartment or affordable housing development site, and will be able to utilize development incentives from either AB 2334, ED1, and/or SB79.
Located in the neighborhood of Koreatown, the Property is very centrally located in the Los Angeles market with Century City/ Beverly Hills to the West, Downtown Los Angeles to the East, and Hollywood to the North. With its central location in the Koreatown market, Los Angeles’ most densely-populated neighborhood, 854 S Normandie Avenue is within walking distance of five neighborhood-serving shopping malls, an abundance of restaurants and nightlife, and over 7.5 million square feet of Class A office space. Additionally, being directly adjacent to Wilshire Boulveard, Olympic Boulevard, Metro B Rail Line, and Metro D Rail Line,
the area offers access to major thoroughfares and public transit lines to major employment centers in Downtown Los Angeles (2 miles), Miracle Mile (4 miles), Hollywood (4 miles), Beverly Hills (5 miles), and Century City (7 miles).
INVESTMENT HIGHLIGHTS
854 S Normandie Avenue is an attractive development opportunity for a developer looking
to build a new multi-family project in a well established apartment market with good
demographics that are becoming stronger.
- Per State of California (AB2334 and SB79) and City of Los Angeles (ED1) development incentives, there are multiple avenues for a developer utilize bonus density and bonus FAR for their project
- Property is located in the ½ mile section of Tier 1 area. SB79 is scheduled to go into effect July 1, 2026
- Excellent Koreatown location just south of Wilshire Boulevard, nearby to abundant amenities.
- Within blocks of Metro Rail Stations for the B line at Wilshire/Vermont, and D line
at Wilshire/Western and Wilshire/Normandie
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Property Facts
1 Lot Available
Lot
| Price | $4,004,035 CAD | Lot Size | 0.30 AC |
| Price Per AC | $13,174,375.10 CAD |
| Price | $4,004,035 CAD |
| Price Per AC | $13,174,375.10 CAD |
| Lot Size | 0.30 AC |
Description
Located in the neighborhood of Koreatown, the Property is very centrally located in the Los Angeles market with Century City/ Beverly Hills to the West, Downtown Los Angeles to the East, and Hollywood to the North. With its central location in the Koreatown market, Los Angeles’s most densely-populated neighborhood, 854 S Normandie Avenue is within walking distance of five neighborhood-serving shopping malls, an abundance of restaurants and nightlife, and over 7.5 million square feet of Class A office space. Additionally, being directly adjacent to Wilshire Boulevard, Olympic Boulevard, Metro B Rail Line, and Metro D Rail Line,the area offers access to major thoroughfares and public transit lines to major employment centers in Downtown Los Angeles (2 miles), Miracle Mile (4 miles), Hollywood (4 miles), Beverly Hills (5 miles), and Century City (7 miles).
Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (78)
Property Taxes
| Parcel Number | 5094-018-001 | Improvements Assessment | $1,411,048 CAD |
| Land Assessment | $3,292,452 CAD | Total Assessment | $4,703,499 CAD |
Property Taxes
Parcel Number
5094-018-001
Land Assessment
$3,292,452 CAD
Improvements Assessment
$1,411,048 CAD
Total Assessment
$4,703,499 CAD
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854 S Normandie Ave - Koreatown Affordable Housing Development Site
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