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$1,720,000
Est. payment /mo
7,601 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25552243
HOA Y/N No
Year Built 1901
Lot Size 7,601 Sqft
Property Description
An exceptional development opportunity in a prime South Los Angeles location. This fully approved site is entitled for 46 units of 100% affordable housing, offering a valuable asset for developers focused on socially impactful and income-generating projects. Key Highlights: Entitlements Approved: Plans fully approved for 46 units45 one-bedroom units and 1 single/studio unit. Affordable Housing: All units designated as affordable, aligning with city and state incentives. No Underground Parking Required: Simplifies construction and reduces development costs. Transit-Oriented Location: Convenient access to bus lines and daily necessities, enhancing tenant accessibility and appeal. Alley Access: Rear alley facilitates easier construction logistics and future service access. Vacant Building: No current tenants; no relocation required under the Ellis Act. Projected Gross Income: Approximately $1.1 million/year upon stabilization (subject to rent levels and management).This site is ideal for developers looking to execute a high-impact, lower-barrier affordable housing project in a high-demand area of Los Angeles. The clean entitlement status and absence of relocation obligations make this a turn-key development opportunity. The listing broker/agent is part owner.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAC2
Interior
Fireplace No
Others
Tax ID 5115022003
Special Listing Condition Standard
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Listed by Mojgan Yamini • Landmark One Realty
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Elite Real Estate Group
Team