182 S Virgil Ave, Los Angeles, CA 90004
- $1,100,000
- List Price
- $1,100,000
- Price Change
- ▼ $147,500 1775532705
- MLS#
- 26645983
- Lot Size
- 6,952
- Days on Market
- 170
- Property Type
- Land
Property Description
182 & 186 S Virgil Ave present a rare LAR3 / TOC Tier 3 development opportunity in a prime infill Los Angeles location. The offering consists of two contiguous parcels preferably sold together ($2.2m), creating an efficient 12,638 SF site per ZIMAS. Located in the heart of Koreatown, the property sits within one of Los Angeles' most supply-constrained, high-density rental submarkets, known for strong multifamily fundamentals and durable tenant demand. The area continues to see active infill redevelopment driven by proximity to major employment centers, neighborhood-serving retail, and transit. The site benefits from TOC Tier 3 designation, allowing for density increases and reduced parking requirements, enhancing feasibility and project efficiency. Surrounding uses include mid-rise and high-density apartment buildings, reinforcing the site's suitability for multifamily development and supporting long-term rental demand. This offering is well suited for by-right multifamily development, TOC density bonus execution, or other qualifying housing strategies, subject to buyer verification. Vacant land with no in-place income, offering a clean development path in an established urban location. Buyer to independently verify all zoning, unit counts, TOC incentives, parking requirements, utilities, and development assumptions.
Additional Information
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Courtesy of Christie's International Real Estate SoCal, Nicole Contreras - CA DRE#01512844
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