Price: $4,950,000 | Plans Approved, Buyer to Obtain RTI Post-Closing
Lot Size: 25,658 Square Feet | Project’s Building Area: 66,040 Square Feet
ADDRESS
957, 961 & 967 Arapahoe Street
Los Angeles, CA 90006
Presenting a rare opportunity with approved Plans in the vibrant Wilshire District of Los Angeles. This offering includes three contiguous parcels located at 957, 961, and 967 Arapahoe Street, totaling approximately 25,658 square feet of land. The approved plans call for a 5-story, 109-unit apartment building over a Type I-A subterranean garage, utilizing Type III-A construction. This is a 100% privately funded project in one of the most in-demand, transit-connected neighborhoods of Los Angeles.
• Located within the Wilshire Council District, the project is ideally suited for a forward-thinking investor or developer.
• Income-producing structures currently exist on two of the parcels, providing holding income while final construction preparations are made.
• Investors may pursue re-entitlement under Executive Directive 1 (ED1) or the CHIP Ordinance to potentially increase density and boost project value.
This opportunity will bring 109 residential units to a highly walkable, transit-served and amenity-rich location in Los Angeles. With approved plans in hand and options for further entitlements under new city programs, this property is poised for immediate development or strategic repositioning.
Contact us today to request the full due diligence package.
PROPERTY HIGHLIGHTS
• Approved plans for 109 units:
Unit mix: 63 Studios, 40 One-Bedroom, and
6 Two-Bedroom Units
• Three contiguous parcels:
APNs: 5076-005-007 (vacant land),
5076-005-008 (triplex with income), and
5076-005-009 (single-family home with income)
Combined lot size: ±25,658 square feet
• Residential building area: ±66,040 square feet
79 units with private balconies
2,008 square foot recreation room
Roof deck on levels 2 and 5
• Zoning: LAR4-1 | General Plan Land Use:
High Medium Residential
• TOC Tier 3: Significant development incentives and reduced parking requirements
• Parking: 59 total spaces, including:
3 ADA stalls
18 EV-ready stalls
4 compact stalls
• Bicycle Parking: 80 long-term and 10 short-term spaces
• Subway proximity: Less than one mile from Metro subway station
REDEVELOPMENT INFORMATION
Lot Size: 25,658 SF
Residential Building Area: 66,040 SF
APNs: 5076-005-007; 008; 009
Zoning: LAR4-1
Stories: 5
Private Balconies: 79
Parking Spaces: 59 Total
Bicycle Parking Spaces: 80 long-term,
10 short-term
Transit Oriented Community (TOC): Tier 3