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843 W 82Nd Street

Los Angeles, CA 90044

PRICE REDUCED

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-$505,000 (-14.43%)

$2,995,000

List Price

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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.

Listing Information

List Price $2,995,000
Status Active
MLS 24358681
Type Land
Lot Size 9,301
Structure Size N/A
DOM 182
Courtesy Of Marcus & Millichap
Listing Agent Neema Ahadian DRE#01346750

Interior Features

Total Bedroom
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Exterior Information

Maps

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$714,999

king_bed N/A
shower N/A
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king_bed 18
shower 11
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716 W 81St Street,

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king_bed N/A
shower N/A
straighten N/A
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948 W 81St Street,

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$810,000

king_bed 9
shower 4
straighten 3,116
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635 W 82Nd Street,

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$3,300,000

king_bed N/A
shower N/A
straighten N/A
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Los Angeles, CA 90044

Listing information courtesy of: Neema Ahadian, Marcus & Millichap 310-909-5444. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 17th, 2024 at 7:56 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.