PRIME KOREATOWN CORNER LOT IN A QUALIFIED OPPORTUNITY ZONE (pursuant to Internal Revenue Code Ãƒ'šÃ‚§ 1400Z-2), providing significant tax benefits on capital gains. RARE RE-DEVELOPMENT OPPORTUNITY with permits to be delivered ready to issue (RTI) for 14 new luxury units (36 total bdrms) in a high rent demand area. Existing structure is COMPLETELY VACANT with demolition permits RTI. NONE of the units are affordable/low income units. 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 in booming Koreatown. Buyer & Seller to comply with each other's 1031 tax exchange, if applicable.