***BANK OWNED SALE*** 64 UNITS RTI Plans We are excited to offer 734 S. Manhattan Place, a 15,000 square foot TOC Tier 3 vacant lot zoned R4 2 in the heart of Koreatown. This prime development opportunity offers various possibilities, including the option to immediately begin construction on a fully approved 64 unit, seven story project, or to explore a new design for an ED1 100% affordable housing project.The current owner has full approvals to build a 60 unit + 4 ADUs RTI (Ready to Issue) development. The seven story proposed project will encompass approximately 61,639 square feet in total building area. Of the 64 units proposed, 24 will be studio units, 30 will be three bedroom units, 6 will be four bedroom units and 4 will be ADUs. 6 of the 64 total units will need to be dedicated to extremely low income affordable units. The plans include 33 automobile parking spaces, 49 long term bicycle spaces and 12 short term parking spaces. Designed with modern living in mind, each unit will appeal to a wide range of tenants, ensuring high occupancy rates and steady cash flow. Property is currently fully vacant, so no tenant relocations required. Located just two blocks from the Wilshire/Western intersection, this property offers easy access to the vibrant amenities of Koreatown and within short driving distance of Downtown LA, Hollywood, Los Feliz, Silver Lake, and Hancock Park.