The Real Deal Los Angeles

Kian Investment plans 69-unit complex in Koreatown

LLC potentially connected to auto entrepreneur proposed building with portion of units for "very low income" households

June 15, 2016 01:00PM
By Cathaleen Chen

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926 South Kingsley Drive (via Google Earth)

926 South Kingsley Drive (via Google Earth)

More apartments may be coming to Koreatown.

Kian Investment, an LLC registered to a trust established by Benhoor Elyashar and possibly associated with U.S. Auto Parts co-founder Sol Khazani, has filed a plans with the city to develop a six-story, 69-unit apartment complex at 926 South Kingsley Drive.

A single-family house currently sits on the 20,520-square-foot lot, according to the case filing, though it is zoned for multiple dwellings. The proposed two-story apartment building in question would have two levels of underground parking as well as about 6,300 square feet of open courtyard space. Other amenities would include a recreation room and balconies.

The applicant has proposed that six of the units to be for “very low income” households, and in turn, requested a 53 percent density bonus.

Kian also owns properties in Beverly Hills and Van Nuys.

Koreatown is home to a handful of massive residential projects in early stages. Last month, Jamison Services filed plans with the city for a 228-unit condo project at 3975-3987 West Ingraham Street just west of Ktown, The Real Deal reported. The firm is also working on two office-to-residential building conversions in Ktown on Wilshire Boulevard. And in April, Harridge Development Group submitted plans for the redevelopment the Wilshire Galleria into a 545-unit mixed-income apartment complex with space for stores, restaurants and hotel rooms.