734 S Manhattan Pl

Property Overview

734 S. Manhattan Place is a fully RTI-entitled (Ready-to-Issue) 64-unit, 7-story development site in the heart of Koreatown. The 15,000 SF vacant lot carries R4-2 zoning with TOC Tier 3 density bonuses, enabling 60 market-rate units plus 4 ADUs across 61,639 SF of building area. Unit mix: 24 studios, 30 three-bedrooms, 6 four-bedrooms, and 4 ADUs. Six units designated extremely low income per TOC requirements. 33 auto parking spaces and 49 long-term plus 12 short-term bicycle spaces. The property is delivered vacant — no demolition or tenant relocation required. Two blocks from Wilshire/Western Metro station. Also eligible for ED1 100% affordable housing conversion. Asking $3,300,000, which is $51,562 per unit and $220 per land SF.

Investment Highlights

• Fully RTI-entitled — Ready-to-Issue permits. Skip 12-24 month approval process.
• Vacant lot. No demolition or tenant relocation required.
• 64 units (60 market-rate + 4 ADUs) across 61,639 SF. 7-story building.
• TOC Tier 3 density bonuses. R4-2 zoning. Also eligible for ED1 100% affordable.
• $51,562 per unit. $220 per land SF. Below active listing average of $247/SF.
• Two blocks from Wilshire/Western Metro. Koreatown vacancy under 3%.

Neighborhood

Koreatown is one of Los Angeles' most densely populated and transit-connected neighborhoods. Walk Score above 90. Wilshire/Western Metro station two blocks away. Sub-3% vacancy rates with 98%+ occupancy across stabilized multifamily (CoStar, 2025). Nightlife, dining, and retail concentrated along Western, Wilshire, and Olympic corridors.