6
See all 6 photos
$1,590,000
Est. payment /mo
7,286 Sqft Lot
Active
11151 S Broadway Los Angeles, CA 90061
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UPDATED:
11/14/2024 07:01 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24-460697
Lot Size 7,286 Sqft
Acres 0.1673
Property Description
Partners CRE is proud to present for sale a ready-to-issue (RTI) 40-unit, 100% affordable housing development on a 7,286 SF lot at 11151 S Broadway in Los Angeles. Designed to offer efficient, affordable housing, this project provides significant value to developers seeking a cost-effective development opportunity in the Los Angeles market. The proposed development features a 16,479 SF, four-story, Type V-A construction with a compact, stacked design that maximizes space. With zero parking spaces, the design focuses on efficient, affordable living. All 40 units are thoughtfully composed of 9 studios, 30 one-bedroom, and 1 two-bedroom apartments. Affordable Housing Designation:* 2 Very Low-Income Unit* 31 Low-Income Units* 6 Moderate-Income Units* 1 Market-Rate Manager's UnitRent levels for very low and moderate-income units adhere to HCD Schedule VI, while rents for low-income units follow HUD Schedule I. The property's location may attract Section 8 voucher tenants, offering potential for increased income by approximately 20% per unit. Delivered vacant at COE, this property offers an exceptional opportunity for developers to enter the affordable housing market with a fully RTI project.
Location
State CA
County Los Angeles
Area Metropolitan South
Zoning C2-2D-CPIO
Exterior
Waterfront Description None
View Y/N Yes
View Walk Street
Others
Special Listing Condition Standard
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Listed by Keller Williams Beverly Hills