RARE RE-DEVELOPMENT OPPORTUNITY! PRIME KOREATOWN CORNER LOT. Existing structure is currently VACANT - no tenants. Permits to be delivered ready to issue (RTI) for 14 new luxury units - 36 total bedrooms in a high rent demand area. NONE of the units are affordable/low income units. Demolition permits in hand as well. Total Gross Building area is approx. 27, 762 sq. ft. - including first floor parking on street level, so NO NEED for burdensome underground parking! The Property is surrounded by new development and steps away from a middle school. Buyer & Seller to comply with each other's 1031 tax exchange, if applicable.