Description

We are proud to offer an outstanding, ready-to-issue 38-unit affordable housing development opportunity in the heart of south los angeles. this prime project is located on a 7,202 sf lot and is designed with a 4-story type v-a building under ed-1 incentives, maximizing both density and affordability. with a total floor area of 22,909 sf and 18,036 sf of rentable space, the development includes 32 one-bedroom units and 6 studio apartments, all of which will be affordable to low- and moderate-income residents. the design eliminates the need for parking, further reducing construction costs and ensuring long-term affordability.6801 s figueroa st is in the los angeles state enterprise zone, offering additional benefits and incentives for development. the rent structure is highly attractive: 80% of the units are designated for tcac schedule ix low-income tenants, while 20% will be reserved for hcd schedule vi moderate-income tenants. in addition, the property's proximity to section 8 voucher opportunities could boost rental income by up to 20% per unit. located in the rapidly transforming south los angeles area, this property is at the center of a vibrant community undergoing revitalization, with new developments and improvements enhancing the neighborhood. the site is ideally positioned near essential amenities such as schools, healthcare centers, and parks, making it a prime location for individuals and families in need of affordable housing. with a walk score of 76, it's also within walking distance of local shops, dining, and services. with all entitlements and approvals secured, the project is ready-to-issue and will be delivered vacant at the close of escrow, providing an immediate and seamless path to development.

• Property Type

  Land

• County

  Los Angeles

• Style

  Land

• AD ID

  48587823