Los Angeles, CA 90011,4129 Avalon BLVD
Los Angeles, CA 90011,4129 Avalon BLVD
Los Angeles, CA 90011,4129 Avalon BLVD
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,695,000
Est. payment /mo
8,197 Sqft Lot
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UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25580479

HOA Y/N No

Lot Size 8,197 Sqft

Property Description

BACK ON MARKET AT NEW PRICE! We are proud to present a ready-to-issue (RTI) 48-unit, 100% affordable housing project on an 8,199 SF lot. This 4-story apartment development is designed with efficiency in mind. The recreation room has the potential to convert into ADU. It features a stacked on-grade design and includes: 14 Studios, 33 One-Bedroom Units, 1 Studio Manager's Unit. The total gross buildable space is approximately 23,323 SF and the total rentable space is approximately 17,126 SF. Housing affordability is a key focus, with: 10 units for moderate-income households (110% AMI or below), 37 units for low-income households (80% AMI or below), 1 market-rate manager's unit. The rent amounts for the very low and moderate-income units can be found on HCD Schedule VI, while the rent for the low-income units can be found on TCAC Schedule IX. Additionally, the location of this property may attract Section 8 voucher tenants, increasing the potential income by around 20% for each unit. The property is situated in a primarily residential neighborhood near Hospital and Park, offering ample access to street parking within a walkable radius. The proposed development features zero parking spaces, which reduces construction costs for the developer. The neighborhood is very walkable with excellent transit, as indicated by a Walk Score of 79. The property is currently used as Car Storage, rented month-to-month at $1,800. Seller is willing to provide Seller Financing and be in a second position to a construction loan.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning C2-IVL-CPIO

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 5113005001

Special Listing Condition Standard

Read Less Info
CRMLS – RECore
Listed by Jordan Petito Keller Williams Beverly Hills

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