The Real Deal Los Angeles

Family trust plans 29 boutique condos in Koreatown

The site on Kenmore Avenue is currently occupied by a six-unit apartment

August 29, 2016 02:00PM
By Cathaleen Chen

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The property at 900 South Kenmore Avenue

The property at 900 South Kenmore Avenue

Koreatown is seeing a condo kick as of late.

Plans have been filed for a 29-unit condo complex at 900 South Kenmore Avenue, according to city planning documents.

Family trust representative Jim Choi is the owner of the two lots that total 0.3 acres. He owns another Koreatown multifamily complex on Hobart Boulevard.

He acquired one of them for $1.2 million in October of last year, CoStar shows. A six-unit Class C apartment building currently sits on the property.

Just last week, plans were filed for a 228-condo project at on the block bound by Olympic Boulevard, Vermont Avenue, 11th Street and Menlo Avenue. Compared to other major L.A. submarkets, Koreatown saw the highest price increase as well as the biggest increase in sales between May 2015 and May 2016, according to a Polaris Pacific report.