8426 S Broadway 6040002003
Los Angeles, CA, 90003
$875,000
Beds
0 Baths
SqFt
0.17 Acres
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To present a unique opportunity to acquire 8426 S Broadway, a fully Ready-to-Issue (RTI) affordable housing development project located in South Los Angeles. This property is situated on a 7,264-square-foot lot and comes with RTI permits for a 22-unit, 100% affordable multifamily project. The proposed 3-story apartment building will feature Type V-A construction and does not require parking, as per AB 2097. This provides substantial design flexibility and the potential for a strong return on investment. The approved plans outline the development of 22 apartment units, totaling 10,803 square feet. The proposed design includes 2 studio units, 19 one-bedroom units, and 1 two-bedroom unit, with three apartments designated for Extremely Low Income tenants and nineteen for Low Income tenants. The rents for these affordable units will adhere to the most recent Schedule I and Schedule 6 rent limits set by HUD. Additionally, the project allows for participation in the Section 8 voucher program, which enhances leasing flexibility and income stability. Located on Broadway, the property is within walking distance of several public transportation stops along Main Street. It is also less than half a mile from South Park Recreational Center, Dr. Maya Angelou Community High School, and South Los Angeles Wetlands Park, and within a mile of LA Academy Middle School. For commuters, the 10 and 110 Freeways are just minutes away, providing convenient access to Greater Los Angeles.

Property Details

Price:
$875,000
MLS #:
25567633
Status:
Active
Baths:
0
Address:
8426 S Broadway 6040002003
Type:
Land
Neighborhood:
c37metropolitansouth
City:
Los Angeles
Listed Date:
Jul 18, 2025
State:
CA
ZIP:
90003
Lot Size:
7,267 sqft / 0.17 acres (approx)
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8426 S Broadway 6040002003
Los Angeles, CA