1217 & 1223 W. Court St & 311 Firmin St
Multifamily | 12 Units，95 Condo redevelopment opportunity
Marketing description
Here is the professional English version of the listing advertisement, specifically tailored for developers and institutional investors:
🏗️ PRIME DEVELOPMENT OPPORTUNITY | 25,000+ SF Contiguous R4 Land Assemblage Near DTLA
Location: Westlake Neighborhood, Los Angeles, CA 90026
Total Lot Size: Approx. 25,615 SF (0.59 Acres)
Zoning: High-Density R4 (CW)
The Opportunity:
A rare and massive investment assemblage in the heart of the emerging Westlake district, located just steps away from Downtown Los Angeles. This portfolio combines four strategic parcels (APN: 5160-022-034, 035, 036 & 5160-021-028) offering over half an acre of prime land for high-density multi-family development.
💎 KEY INVESTMENT HIGHLIGHTS:
- Unmatched Scale: Over 25,000 SF of contiguous land in one of LA’s most densely populated and high-demand rental markets.
- Optimal Zoning (R4): High-density zoning allows for significant vertical development. Perfect for Tiered-floor-area-ratio (FAR) increases or leveraging California’s ADU and density bonus legislations.
- Income While You Entitle: The portfolio currently features 12 income-producing units (8 units on Court St + 4 units on Firmin St). This provides immediate cash flow to offset holding costs while you secure permits.
- Strategic Condition: Recent upgrades including new roofing and exterior paint on existing structures ensure low maintenance during the entitlement phase.
- Explosive Neighborhood Growth: Located in a rapidly gentrifying "Emerging Area." With hundreds of new luxury units recently completed within a 5-block radius, the exit value for a new development here is exceptional.
📊 PORTFOLIO SUMMARY:
Develop, Hold, or Value-Add—The Choice is Yours.
This is a generational opportunity to shape the skyline of the Westlake/DTLA border. Whether you choose to build a brand-new mid-rise complex or expand the existing footprint, the numbers work.
For a full Offering Memorandum (OM) or a private tour, contact:
👤 Lynn Paris | DRE Lic# 02193706
📞 Direct: 949-351-1343
📧 Email: [email protected]
Investment highlights
Base Zoning Calculation (Base Density): Under Los Angeles's R4 zoning classification, the standard land density requirement is one unit per 400 square feet of lot area. Total Lot Area: Approximately 25,615 SF. Theoretical Base Capacity: 25,615 ÷ 400 ≈ 64 units. 2. **California and Los Angeles Policy Incentives (Significantly Increasing Unit Count):** In actual development practice, leveraging the following policies can allow projects to significantly exceed the base capacity: **TOC (Transit Oriented Communities) Incentives:** If the subject parcel is located within a TOC zone (most of the Westlake district falls under Tier 3 or Tier 4), developers may qualify for a density bonus ranging from 60% to 80%. Projected Capacity: 100 – 115 units (depending on the specific TOC tier). **Density Bonus (DB) — California Density Incentives:** If the project includes a certain percentage of Affordable Housing units, it typically qualifies for an additional density bonus of 35% to 50%. Projected Capacity: 85 – 95 units. **ADU (Accessory Dwelling Unit) Regulations:** If the development strategy involves retaining and renovating the existing structure, it is possible to further increase density—beyond the existing 12 units—by adding ADUs.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
