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 position Schedule a Private Showing

Listing courtesy of BRIDGE / Keller Williams Beverly Hills

Last checked: Checking… • Last updated Apr 3, 2025 • Source: BRIDGE

MLS# CL25496487 — Report a problem

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