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 ($2.495m), 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.