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$2,200,000
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Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25094654
Property Sub-Type Lots/Land
Property Description
Incredible opportunity to build a fully RTI-approved 39-unit affordable housing project in the heart of Pico-Union. Located on a 7,406 SF R3-zoned lot with Tier 8 TOC designationoffering the HIGHEST LEVEL of CITY INCENTIVES. Approved plans include 30 one-bedroom units and 9 studios, totaling approx. 16,157 SF of rentable space and 19,008 SF total building area. Projected monthly income is approx. $104,832 based on updated HACLA payment standards: $3,108 for studios and $3,480 for 1-bedrooms (ZIP code-specific Section 8). This is a rare, shovel-ready opportunity for investors seeking strong returns, premium incentives, and long-term stability in one of LAs most transit-connected and high-demand rental submarkets. Close to DTLA, USC, Koreatown, public transportation, and major freeway
Location
State CA
County Los Angeles
Direction N of 10 Freeway - W of 101 Freeway
Interior
Fireplace No
Exterior
View Y/N No
Others
Tax ID 5135028007
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Listed by Rana Khanjani Sync Brokerage