PartnersCRE is proud to present for sale a fully entitled ED1-vested 22 unit 100% Affordable Housing Project in a gentrifying Low-Density neighborhood.Designed with low cost efficiencies in mind, this 3-story partially stacked on-grade design featuring 22 x 1BR+1BA units (for a total of around 12,780 SF of rentable space), along with a large office space and bike storage.Zero parking spaces will allow a developer to avoid the high cost of on grade or subterranean parking in this Very Walkable neighborhood with Excellent Transit (according to Walk Score of 89 "Very Walkable").The future potential income from this project will benefit from access to HCD Schedule 6 (20% of total units) and TCAC Schedule 9 (80% of the total units), which are currently standard in Los Angeles for 100% Affordable Projects. Additionally, the location of this property may attract Section 8 voucher tenants increasing the potential income by around 20% for each unit.Westlake is one of the more centrally located parts of LA within close proximity to Echo Park, Silverlake, Downtown LA, Larchmont Village, and many more prominent locations.
Property Details
Price:
$1,295,000
MLS #:
24406801
Status:
Active
Baths:
0
Address:
142 S Mountain View Avenue 5154004016
Type:
Land
Neighborhood:
c42downtownla
City:
Los Angeles
Listed Date:
Jun 17, 2024
State:
CA
ZIP:
90057
Lot Size:
6,245 sqft / 0.14 acres (approx)
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- Address142 S Mountain View Avenue 5154004016 Los Angeles CA
- AreaC42 – Downtown L.A.
- CityLos Angeles
- CountyLos Angeles
- Zip Code90057
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Courtesy of Keller Williams Beverly Hills. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
142 S Mountain View Avenue 5154004016
Los Angeles, CA
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