$1,350,000 Price Analysis   ♡   Los Angeles, CA 90023 Unknown bed 0 bath unknown SqFt ($0/SqFt) 8,026SqFt lot. Listed 2024-05-21 | Ⓧ USDA Ineligible due to property near Los Angeles |
The Neema Group is pleased to present a development opportunity at 3329 Whittier Blvd in the Boyle Heights neighborhood of Los Angeles
Located west of Lorena St. The vacant lot totals 8, 037 SF and is zoned C1.5-1-CUGU in a Tier 3 TOC. The property is RTI for 32 units, featuring a unit mix of 28 one-bedrooms (approximately 470 SF) and four two-bedrooms (approximately 515 SF); four of the one-bedroom units will be set aside as deed-restricted extremely low income units. Opportunity to cquire a RTI TOC project with four deed-restricted units with the ability to benefit from the affordable housing landscape in Los Angeles by capturing Section 8 rents and utilize no parking requirements via AB 2097.
Offered at a low $42, 188 per buildable unit and $168 per square foot at the asking price; no tenant relocation required. Close proximity to schools including Lorena Street Elementary and Robert Louis Stevenson Middle School, employment in the Arts District, Vernon and Downtown Los Angeles and transit options such as the Metro L Line and Metro Local Line stops at Lorena and Whittier; this location makes it convenient for residents to commute throughout the city even without a vehicle. The Bo yle Heights neighborhood remains a desirable area to invest and build as approximately 75% of the 95, 000 residents choose to rent.
Presented by Neema Ahadian at
Marcus & Millichap.
Property MLS #24-394843 from TheMLSCLAW
Lot Size Square Feet: 8026
Calculated Total Monthly Association Fees: 0
County: Los Angeles
Directions: 3329 Whittier Blvd in the Boyle Heights neighborhood of Los Angeles, located just west of Lorena St
Source Property Type: Land
Area: Boyle Heights
Source Neighborhood: Boyle Heights
Parcel Number: 5188-004-045
Postal Code Plus 4: 2205
Zoning: LAC1.5
Source System Name: C2C
$1,350,000
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.