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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 1,900,000

Est. payment -/mo

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4129 Avalon BLVD Los Angeles, CA 90011

8,197 Sqft Lot

UPDATED:

09/30/2024 06:29 PM

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 24427447

HOA Y/N No

Lot Size 8,197 Sqft

Property Description

We are pleased to present a ready-to-issue (RTI) 48-unit, 100% affordable housing project available for sale on an 8,199 square foot lot. This 4-story apartment development is designed with efficiency in mind, featuring a recreation room that has the potential to be converted into an Accessory Dwelling Unit (ADU). The project includes 14 studios, 33 one-bedroom units, and 1 studio manager's unit, with a total gross buildable space of approximately 23,323 square feet and a total rentable space of approximately 17,126 square feet. The focus on housing affordability is highlighted by the allocation of 10 units for moderate-income households (110% AMI or below), 37 units for low-income households (80% AMI or below), and 1 market-rate manager's unit. Rent amounts for the very low and moderate-income units are available on HCD Schedule VI, while rent for the low-income units can be found on TCAC Schedule IX. Additionally, the property's location may attract Section 8 voucher tenants, potentially increasing income by around 20% for each unit. Situated in a primarily residential neighborhood near a hospital and park, the property offers ample access to street parking within a walkable radius. Despite having zero parking spaces, which reduces construction costs, the neighborhood is very walkable with excellent transit options, as reflected by a Walk Score of 79. The property is currently used as car storage, rented on a month-to-month basis for $1,800.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning C2-IVL-CPIO

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 5113005001

Special Listing Condition Standard

Listed by Jordan Petito • Keller Williams Beverly Hills

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

4129 Avalon BLVD Los Angeles, CA 90011

Key Details

Location

Interior

Exterior

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Others

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4129 Avalon BLVD