8426 S Broadway, Los Angeles, CA 90003 – 25567633

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Sean Beattie Jr.

info@seanbeattiejr.com +1(415) 845-8732

$875,000

Est. payment - /mo

7,265 Sqft Lot

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UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25567633

HOA Y/N No

Lot Size 7,265 Sqft

Property Description

To present a unique opportunity to acquire 8426 S Broadway, a fully Ready-to-Issue (RTI) affordable housing development project located in South Los Angeles. This property is situated on a 7,264-square-foot lot and comes with RTI permits for a 22-unit, 100% affordable multifamily project. The proposed 3-story apartment building will feature Type V-A construction and does not require parking, as per AB 2097. This provides substantial design flexibility and the potential for a strong return on investment. The approved plans outline the development of 22 apartment units, totaling 10,803 square feet. The proposed design includes 2 studio units, 19 one-bedroom units, and 1 two-bedroom unit, with three apartments designated for Extremely Low Income tenants and nineteen for Low Income tenants. The rents for these affordable units will adhere to the most recent Schedule I and Schedule 6 rent limits set by HUD. Additionally, the project allows for participation in the Section 8 voucher program, which enhances leasing flexibility and income stability. Located on Broadway, the property is within walking distance of several public transportation stops along Main Street. It is also less than half a mile from South Park Recreational Center, Dr. Maya Angelou Community High School, and South Los Angeles Wetlands Park, and within a mile of LA Academy Middle School. For commuters, the 10 and 110 Freeways are just minutes away, providing convenient access to Greater Los Angeles.

Location

State CA

County Los Angeles

Area C37 - Metropolitan South

Zoning LAC2

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 6040002003

Special Listing Condition Standard

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Listed by Filip Niculete Marcus & Millichap

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Sean Beattie Jr.

+1(415) 845-8732

Agent | CA DRE# 01944311

Agent CA DRE# 01944311

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8426 S Broadway Los Angeles, CA 90003

Sean Beattie Jr.

Key Details

Location

Interior

Exterior

Building

Others

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