843 W 82nd Street Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90044
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL24358681
HOA Y/N No
Lot Size 9,301 Sqft
Acres 0.21
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.
Location
State CA
County Los Angeles
Area Listing
Zoning LAR3
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 6032006020