$1776000 Price Analysis   ♡   Los Angeles, CA 90037 Unknown bed 0 bath unknown SqFt ($0/SqFt) 6023SqFt lot. Listed 2024-05-31 | Ⓧ USDA Ineligible due to property near Los Angeles |
This is an affordable housing development opportunity at 5436 S Bro adway
A corner lot in in the South Park neighborhood ofLos Angeles. The 6, 021 SF lot will be delivered fully entitled for 34 income-restricted housing units and 1 manager unit with no parking required. The project's central infill location and proximity to major employment hubs such as Downtown LA, Vernon, Commerce and Huntington Park support multiple lease-up strategies including filling units through PATH, LAHSA or Section 8. Plans call for an efficient four-story project, utilizing Type V-A construction fora stacked design reducing construction costs for the developer. The existing structures will be delivered vacant at the close of escrow, allowing a developer to break ground immediately, without navigating the planning process or taking on additional risk through pending ordinances that are limiting the development of similar high density affordable projects.
The finished project totals 16, 358 SF and has a desirable unt mix of 10 singles (255-315 SF) and 25 one-bedrooms (300-430 SF). The project is offered at a low price per buildable unit, allowing a privately funded developer the opportunity to develop a high yielding project and capture a strong return on cost with zero tax credits or government subsidies. In addition, the affordability of the project opens avenues of mission driven financing through CDFIs or mission driven lenders (contact agent for details). Located in a dense location of South Los Angeles with an easy commute throughout the city with access to the 110 Freeway; close to multiple Metro local lines along S Broadway.
Presented by Neema Ahadian at
Marcus & Millichap.
Property MLS #24-398619 from TheMLSCLAW
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 6023
Calculated Total Monthly Association Fees: 0
County: Los Angeles
Directions: 5436 S Broadway is located in a corner lot of Broadway and 55th street in the South Park neighborhood of Los Angeles.
Source Property Type: Land
Area: Downtown L.A.
Source Neighborhood: Downtown L.A.
Parcel Number: 5101-032-003
Postal Code Plus 4: 4126
Zoning: LAC2
Source System Name: C2C
$1776000
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.