142 S Mountain View AVE Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90057
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24406801
Lot Size 6,246 Sqft
Property Description
PartnersCRE is proud to present for sale a fully entitled ED1-vested 22 unit 100% Affordable Housing Project in a gentrifying Low-Density neighborhood.Designed with low cost efficiencies in mind, this 3-story partially stacked on-grade design featuring 22 x 1BR+1BA units (for a total of around 12,780 SF of rentable space), along with a large office space and bike storage.Zero parking spaces will allow a developer to avoid the high cost of on grade or subterranean parking in this Very Walkable neighborhood with Excellent Transit (according to Walk Score of 89 "Very Walkable").The future potential income from this project will benefit from access to HCD Schedule 6 (20% of total units) and TCAC Schedule 9 (80% of the total units), which are currently standard in Los Angeles for 100% Affordable Projects. Additionally, the location of this property may attract Section 8 voucher tenants increasing the potential income by around 20% for each unit.Westlake is one of the more centrally located parts of LA within close proximity to Echo Park, Silverlake, Downtown LA, Larchmont Village, and many more prominent locations.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning R3-1
Exterior
View Y/N Yes
Building
Lot Description Flat
New Construction No
Others
Acceptable Financing Cash,Conventional,FHA
Listing Terms Cash,Conventional,FHA
Special Listing Condition Standard