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843 W 82nd Street

Los Angeles (City), CA 90044
  • $3,200,000
  • STATUS: Active
  • ON SITE: 150 Days
  • ID#: 24358681
UPDATED: 108 min ago
$3,200,000
  • 0
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)


Description

This is an affordable housing development opportunity at 843 W82nd St, located between S Vermont Ave and S Hoover St inSouth Los Angeles. The 9,301 SF lot will be delivered fully entitled for87 income-restricted housing units and 1 manager unit with no parking required.The project's central infill location and proximity to major employment hubs such as Downtown LA, Vernon, Commerce, and Huntington Park support multiple lease-up strategies including filling units through PATH, LAHSA or Section 8.Plans call for an efficient five story project, utilizing Type III construction for a fully stacked design reducing construction costs for the developer. The existing duplex will be delivered vacant at the close of escrow, allowing a developer to break ground immediately, without navigating the planning process or taking on additional risk through pending ordinances that are limiting the development of similar high density affordable projects.The finished project totals 48,123 SF and has a desirable unit mix of 4 x singles, 79 x one-bedrooms, and 5 x two-bedrooms.The project is offered at a low price per buildable unit, allowing a privately funded developer the opportunity to develop a high yielding project and capture a strong return on cost with zero tax credits or government subsidies. In addition, the affordability of the projects opens avenues of mission driven financing through CDFIs or mission driven lenders (contact agent for details). Located in a dense location of South Los Angeles with an easy commute throughout the city with access to the 110 Freeway from Manchester Ave; walking distance to multiple Metro local lines on S Vermont Ave.The subject property is walking distance to retail amenities along S Vermont Ave; nearby to Loren Miller Elementary School, Frederick K.C. Price III Christian Schools, and the Algin Sutton Recreation Center.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-07-15T20:36:44.65. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
www.legacy15.com/homes/147651333
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843 W 82nd Street Los Angeles (City), CA 90044

  • Price: $3,200,000
  • Status: Active
  • On Site: 150 Days
  • Updated: 108 min ago
  • ID#: 24358681
0
Beds
0
Baths
0
½ Baths
0.21
Acres
Neighborhood:
C36 - Metropolitan Southwest
County:
Los Angeles
Area:
C36 - Metropolitan Southwest
Property Description
This is an affordable housing development opportunity at 843 W82nd St, located between S Vermont Ave and S Hoover St inSouth Los Angeles. The 9,301 SF lot will be delivered fully entitled for87 income-restricted housing units and 1 manager unit with no parking required.The project's central infill location and proximity to major employment hubs such as Downtown LA, Vernon, Commerce, and Huntington Park support multiple lease-up strategies including filling units through PATH, LAHSA or Section 8.Plans call for an efficient five story project, utilizing Type III construction for a fully stacked design reducing construction costs for the developer. The existing duplex will be delivered vacant at the close of escrow, allowing a developer to break ground immediately, without navigating the planning process or taking on additional risk through pending ordinances that are limiting the development of similar high density affordable projects.The finished project totals 48,123 SF and has a desirable unit mix of 4 x singles, 79 x one-bedrooms, and 5 x two-bedrooms.The project is offered at a low price per buildable unit, allowing a privately funded developer the opportunity to develop a high yielding project and capture a strong return on cost with zero tax credits or government subsidies. In addition, the affordability of the projects opens avenues of mission driven financing through CDFIs or mission driven lenders (contact agent for details). Located in a dense location of South Los Angeles with an easy commute throughout the city with access to the 110 Freeway from Manchester Ave; walking distance to multiple Metro local lines on S Vermont Ave.The subject property is walking distance to retail amenities along S Vermont Ave; nearby to Loren Miller Elementary School, Frederick K.C. Price III Christian Schools, and the Algin Sutton Recreation Center.
Exterior Features

Parking Total 0 View None View YN No

Property Features

Association YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning LAR3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-07-15T20:36:44.65. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
 
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Legacy 15 Real Estate Brokers
22521 Avenida Empresa Suites 100 & 102
Rancho Santa Margarita CA, 92688
Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)