$6,000,000 Price Analysis   ♡   Los Angeles, CA 90019 Unknown bed 0 bath unknown SqFt ($0/SqFt) 0.25 acre lot. Listed 2024-02-01 | Ⓧ USDA Ineligible due to property near Los Angeles |
4303-4313 W Pico Blvd is a unique affordable housing development opportunity in Mid City.
Plans call for 149 income restricted housing units and 1 manager unit, with an ideal unit mix of 48 singles and 102 one-bedrooms. Unlike other ED1 projects, the design includes one level of on-grade parking for 39 spaces and is centrally located to major empl oyment hubs. The discount to surrounding market rents support both a voucher based and workforce housing lease-up strategy, allowing a developer multiple lease up options and flexibility at completion.
The seven-story mid-rise project is designed with a stacked design, utilizing Type III over Type I construction for expedited construction and reduced costs. The project also includes 11, 259 SF of open space, allowing a developer to provide additional amenities or supportive housing services for residents. The project is offered at a low $40, 000 per buildable unit, offering a privately funded developer the opportunity to fund the entire project without tax credits or government subsidies. The existing two retail units will be delivered vacant at the close of escrow, allowing a developer to break ground and start on the project once permits have been pulled.
Presented by Neema Ahadian at
Marcus & Millichap.
Property MLS #24-350913 from TheMLSCLAW
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 10887
Calculated Total Monthly Association Fees: 0
County: Los Angeles
Directions: This affordable housing development opportunity at 4303-4313 W Pico Blvd, located between Crenshaw Blvd and S La Brea Ave in Mid City.
Source Property Type: Land
Area: Hancock Park-Wilshire
Source Neighborhood: Hancock Park-Wilshire
Parcel Number: 5082-022-006
Postal Code Plus 4: 3134
Zoning: LAC4
Source System Name: C2C
$6,000,000
TheMLSCLAW
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.