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$ 1,100,000
Est. payment | /mo
6,952 Sqft Lot
$ 1,100,000
Est. payment | /mo
6,952 Sqft Lot
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL26645983
HOA Y/N No
Lot Size 6,952 Sqft
Acres 0.1596
Property Sub-Type Unimproved 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.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5501017023
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Listed by Nicole Contreras • Christie's International Real Estate SoCal
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Debbi DiMaggio Betta
REALTOR | Partner | Lic# 01047447