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Active
6801 S Figueroa ST Los Angeles, CA 90003
7,200 Sqft Lot
UPDATED:
01/27/2025 08:23 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25482903
HOA Y/N No
Year Built 1959
Lot Size 7,200 Sqft
Lot Dimensions Assessor
Property Description
We are proud to offer an outstanding, Ready-to-Issue 38-unit affordable housing development opportunity in the heart of South Los Angeles. This prime project is located on a 7,202 SF lot and is designed with a 4-story Type V-A building under ED-1 incentives, maximizing both density and affordability. With a total floor area of 22,909 SF and 18,036 SF of rentable space, the development includes 32 one-bedroom units and 6 studio apartments, all of which will be affordable to low- and moderate-income residents. The design eliminates the need for parking, further reducing construction costs and ensuring long-term affordability.6801 S Figueroa St is in the Los Angeles State Enterprise Zone, offering additional benefits and incentives for development. The rent structure is highly attractive: 80% of the units are designated for TCAC Schedule IX low-income tenants, while 20% will be reserved for HCD Schedule VI moderate-income tenants. In addition, the property's proximity to Section 8 voucher opportunities could boost rental income by up to 20% per unit. Located in the rapidly transforming South Los Angeles area, this property is at the center of a vibrant community undergoing revitalization, with new developments and improvements enhancing the neighborhood. The site is ideally positioned near essential amenities such as schools, healthcare centers, and parks, making it a prime location for individuals and families in need of affordable housing. With a Walk Score of 76, it's also within walking distance of local shops, dining, and services. With all entitlements and approvals secured, the project is Ready-to-Issue and will be delivered vacant at the close of escrow, providing an immediate and seamless path to development.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning C2-1VL-CPIO
Interior
Fireplace No
Building
Story 4
Others
Tax ID 6013019016
Special Listing Condition Standard
Listed by Jordan Petito • Keller Williams Beverly Hills