CA > Los Angeles
Los Angeles, CA 90003,6719 S Figueroa ST
Los Angeles, CA 90003,6719 S Figueroa ST
Los Angeles, CA 90003,6719 S Figueroa ST
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,885,000
Est. payment /mo
9,805 Sqft Lot
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UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25496603

HOA Y/N No

Lot Size 9,805 Sqft

Lot Dimensions Assessor

Property Description

We are proud to offer an outstanding, Ready-to-Issue 58-unit affordable housing development opportunity in the heart of Los Angeles at 6719 S Figueroa St., Los Angeles, CA 90003, located within the Los Angeles State Enterprise Zone. This prime project sits on a 9,805 SF lot and features a 4-story Type V-A building designed under AB 1763 and AB 2345 incentives, maximizing both density and affordability. With a total floor area of 24,774 SF and 20,049 SF of rentable space, the development includes 33 studio units, 25 one-bedroom units, and 1 market-rate manager's unit. Of these, 45 units are affordable to low-income tenants (80% AMI or lower), while 12 units are reserved for moderate-income residents (120% AMI or lower).Notably, this 100% affordable housing project eliminates the need for parking, significantly reducing construction costs and enhancing long-term affordability. The rent structure aligns with HCD Schedule VI and TCAC Schedule IX, ensuring a sustainable income model for developers. The property is located just 410 ft from public transit and close to essential amenities, including schools, parks, and healthcare centers, making it an ideal home for individuals and families. Positioned in a vibrant and transforming Los Angeles community, this site offers convenient access to local shops, dining, and services, with the added advantage of being in the Los Angeles State Enterprise Zone, offering potential business and tax incentives. With all entitlements and waivers secured including density bonuses, FAR increases, and open space reductions this project is Ready-to-Issue and will be delivered vacant at closing, offering developers an immediate and seamless path to construction.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning C2-1VL

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 6013018037

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Jordan Petito • Keller Williams Beverly Hills

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