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. The property allows for up to 90 affordable housing units by using AB 2334 state law which provide multiple bonus incentives for a 100% affordable housing project. Preliminary plans have been prepared for 90 affordable housing units using modular construction, which can reduce construction timelines by approximately 50%. It’s in an excellent Koreatown location just south of Wilshire Boulevard, nearby to abundant amenities. and is within blocks of Metro Rail Stations for the B line at Wilshire/Vermont, and D line at Wilshire/Western and Wilshire/Normandie
LISTING AGENT: David Ghermezian LISTING BROKERAGE: Newmark Residential
Courtesy of Newmark Residential. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than The Agency RE include the name of the listing broker. Neither the listing company nor The Agency RE shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. California Regional Multiple Listing Service. All rights reserved. 854 S Normandie Avenue 5094018001
Los Angeles, CA
Property Details
Price:
$4,650,000
MLS #:
24447547
Status:
Active
Baths:
0
Address:
854 S Normandie Avenue 5094018001
Type:
Land
Neighborhood:
c17midwilshire
City:
Los Angeles
Listed Date:
Oct 1, 2024
State:
CA
ZIP:
90005
Lot Size:
13,239 sqft / 0.30 acres (approx)
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- Address854 S Normandie Avenue 5094018001 Los Angeles CA
- AreaC17 – Mid-Wilshire
- CityLos Angeles
- CountyLos Angeles
- Zip Code90005
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