The Real Deal Los Angeles

Ktown single-family lots could become 32-unit complex

Kian Investment, LLC calls for a five-story multi-family complex

September 14, 2016 03:00PM
By Cathaleen Chen

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Kian Investment LLC is the latest player in the Koreatown development boom.

The entity, registered under Benhoor Elyashar and possibly associated with U.S. Auto Parts co-founder Sol Khazani, filed Monday plans for a five-story, 32-unit apartment complex at 708 and 712 South Gramercy Drive, according to city documents. 

The project calls for 3,760 square feet of open space as well as a roof deck. Two of the 32 units will be reserved for very low-income households.

The 0.3-acre site of the development comprises two residential zoned lots that contain single-family homes. Kian acquired the parcels for a total of $2 million between June and November 2014. Earlier this summer, the developer filed plans for a six-story, 69-unit apartment complex also in the neighborhood at 926 South Kingsley Drive.