$2,495,000 Price Analysis   ♡   Los Angeles, CA 90061 Unknown bed 0 bath unknown SqFt ($0/SqFt) 0.27 acre lot. Listed 2024-07-08, Taxes $7,089 | Ⓧ USDA Ineligible due to property near Los Angeles |
We are pleased to present a remarkable development opportunity at 156 and 200 E.
120th St, Los Angeles, CA (two parcels 6086-002-011 and 012) . This ready-to-issue (RTI) project offers an excell ent chance to create a transformative, 100% affordable housing community consisting of 44 units. The units are broken down into 38 one-bedroom, one-bath units and 6 two-bedroom, one-bath units, catering to a diverse range of residents. Situated on a total land area of 18, 486 square feet, this property is in a prime location in Los Angeles, south of the 110 and 105 freeway interchange. It is conveniently located close to public transportation, with the Avalon Blue Line Station 0.5 miles away. Additionally, SoFi Stadium is a mere 6 miles from the property, offering easy access to entertainment and events. Athens/Magic Johnson Park is 0.8 miles away, providing recreational opportunities for future residents and MLK Jr. Community Hospital is 1.5 miles away, ensuring access to essential healthcare services. The approved project encompasses a 3-story building with a total area of 31, 204 square feet. With RTI permits in place, you can start construction immediately, saving time and reducing the hassle of lengthy approval processes. In the 1-mile radius around the property, the median household income is approximately $36, 000 with a population of about 30, 000 residents. Within a 3-mile radius, the median household income is around $39, 000, with a population of approximately 150, 000 residents. These demographics highlight the significant need for ffordable housing in the area. This project presents a unique opportunity to contribute positively to the community by providing much-needed affordable housing, addressing a critical need in Los Angeles. The city's incentives for affordable housing projects enhance the viability and potential returns of this investment. Los Angeles has a significant demand for affordable housing, ensuring a strong market for these units and benefiting from the long-term appreciation potential in one of the most sought-after real estate markets in the country. This offering is priced to sell!
Don't miss out on this incredible and rare RTI-approved affordable housing development opportunity in the heart of Los Angeles and to make a significant impact in the community while securing a valuable investment.
Presented by Omid Saleh at
Keller Williams Realty South Bay.
Property MLS #24-412479 from TheMLSCLAW
Lot Size Dimensions: 64x181
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 11667
Calculated Total Monthly Association Fees: 0
County: Los Angeles
Directions: South of the 105 fwy and east of the 110 fwy. Located on 120th St between Main St & San Pedro St.
Source Property Type: Land
Area: Metropolitan South
Source Neighborhood: Metropolitan South
Parcel Number: 6086-002-011
Postal Code Plus 4: 2404
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $164,046 + $382,774 $546,820 | $7,089 |
| 2021 | $160,830 + $375,269 $536,099 | $7,001 |
| 2020 | $159,181 + $371,422 $530,603 | $7,066 |
| 2019 | $156,060 + $364,140 $520,200 | $6,801 |
| 2018 | $153,000 + $357,000 $510,000 | $6,700 |
| 2017 | $82,844 + $144,977 $227,821 | $3,308 |
| 2016 | $81,220 + $142,135 $223,355 | $3,226 |
| 2015 | $80,000 + $140,000 $220,000 | $3,180 |
| 2014 | $63,938 + $102,303 $166,241 | $2,596 |
| 2013 | $63,650 + $101,841 $165,491 | $2,590 |
| 2012 | $62,402 + $99,845 $162,247 | $2,617 |
| 2010 | $61,179 + $97,888 $159,067 | $2,571 |
| 2009 | $60,867 + $97,388 $158,255 | $2,477 |
| 2009 | $60,722 + $97,157 $157,879 | $2,477 |
| 2008 | $59,674 + $95,479 $155,153 | $2,377 |
| 2007 | $58,504 + $93,607 $152,111 | $2,295 |
$2,495,000
TheMLSCLAW
Sold 2022-05-02
$800,000
CRMLS
Sold 2017-03-10
$180,000
Public Record
Listing removed 2017-01-05
$399,000
TheMLSCLAW
Sold 2017-01-03
$429,000
Public Record
Listed 2016-10-20
$399,000
TheMLSCLAW
Sold 2014-11-14
$220,000
Public Record
Listing removed 2014-11-14
$230,000
TheMLSCLAW
Listed 2014-10-31
$230,000
TheMLSCLAW
Sold 1998-12-11
$531,820
Public Record
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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.