1050 & 1056 S Norton Ave

A 102-unit, 100% affordable development at 1050 and 1056 S Norton Avenue, in the Mid-Wilshire / Olympic Park area and inside the Country Club Park Historic Preservation Overlay Zone. Asking price is $4,200,000. The memorandum prices that at about $41,176 per planned unit and about $227 per square foot of land.

The lot is about 18,533 square feet, roughly 100 by 185 feet, zoned R3-1-O-HPOZ. Plans describe a five-story, Type III-A building of about 42,908 square feet. Rentable area is listed as approximately 33,833 square feet in the narrative and 33,862 square feet in the summary table. The project is under Executive Directive 1, described as ready to issue at close of escrow, with zero parking proposed. APNs 5081-010-009 and 5081-010-010. The existing improvements are apartment buildings.