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$ 6,000,000
Est. payment | /mo
0.38 Acres Lot
$ 6,000,000
Est. payment | /mo
0.38 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL25491423
HOA Y/N No
Lot Size 0.379 Acres
Acres 0.38
Property Sub-Type Unimproved Land
Property Description
We are pleased to present a unique affordable housing development opportunity at 4303-4313 W Pico Blvd in Mid City. Plans call for 152 income-restricted housing units with an ideal unit mix of 81 singles and 71 one-bedrooms with no parking required. The discount to surrounding market rents support both a voucher based and workforce housing lease-up strategy, allowing a developer multiple lease-up options and flexibility at completion. The six-story mid-rise project is designed with a stacked design, utilizing Type III over Type I construction for expedited construction and reduced costs. The project also includes 7,747 SF of open space, allowing a developer to provide additional amenities or supportive housing services for residents. The project is offered at a low $39,474 per buildable unit, offering a privately funded developer the opportunity to fund the entire project without tax credits or government subsidies. The existing two retail units will be delivered vacant at the close of escrow, allowing a developer to break ground and start on the project once permits have been pulled.
Location
State CA
County Los Angeles
Zoning LAC4
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5082022006
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Listed by Neema Ahadian • Marcus & Millichap