We are proud to present a Ready-to-Issue (RTI) 73-unit (72 Units + 1 ADU), 100% Affordable Housing Development Opportunity on a 6,789 SF lot in the vibrant neighborhood of East Hollywood. The Accessory Dwelling Unit (ADU) is already approved in the Planning Department Letter of Compliance, enhancing its overall value. The property is in an Opportunity Zone! The proposed development features 19,024 SF of total floor area with 15,062 SF + 382 SF (ADU) of rentable square footage, in a 5-story building design with Type III-A construction. The majority of the 72 + 1 units are efficiency units, with sizes averaging 195 SF. This design allows for significantly lower rental prices compared to neighboring properties while still generating high yields per square foot. The restricted rent levels for the project include 80% designated for TCAC Schedule IX low-income tenants and 20% for HCD Schedule VI moderate-income tenants. East Hollywood is a thriving area known for its rich cultural diversity and strong community. The Mariposa Apartments project is conveniently located within a short walk to Kaiser Permanente and Children's Hospital, making it an ideal residence for healthcare workers and families. The property is situated in a Transit-Priority Zone, with easy access to major public tran Schedule a Private Showing

Listing courtesy of BRIDGE / Keller Williams Beverly Hills

Last checked: Checking… • Last updated Dec 13, 2024 • Source: BRIDGE

MLS# CL24458329 — Report a problem

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