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200 E 120th St

Los Angeles, CA 90061
  • $2,495,000
  • STATUS: Active
  • ON SITE: 15 Days
  • MLS #: 24-412479
UPDATED: 92 min ago
$2,495,000
  • 0
    BEDS
  • 0.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

We are pleased to present a remarkable development opportunity at 156 & 200 E. 120th St, Los Angeles, CA (two parcels 6086-002-011 & 012) . This ready-to-issue (RTI) project offers an excellent chance to create a transformative, 100% affordable housing community consisting of 44 units. The units are broken down into 38 one-bedroom, one-bath units, and 6 two-bedroom, one-bath units, catering to a diverse range of residents. Situated on a total land area of 18,486 square feet, this property is in a prime location in Los Angeles, just south of the 110 and 105 freeway interchange. It is conveniently located close to public transportation, with the Avalon Blue Line Station just 0.5 miles away. Additionally, SoFi Stadium is a mere 6 miles from the property, offering easy access to entertainment and events. Athens/Magic Johnson Park is only 0.8 miles away, providing recreational opportunities for future residents, and MLK Jr. Community Hospital is just 1.5 miles away, ensuring access to essential healthcare services. The approved project encompasses a 3-story building with a total area of 31,204 square feet. With RTI permits in place, you can start construction immediately, saving time and reducing the hassle of lengthy approval processes. In the 1-mile radius around the property, the median household income is approximately $36,000 with a population of about 30,000 residents. Within a 3-mile radius, the median household income is around $39,000, with a population of approximately 150,000 residents. These demographics highlight the significant need for affordable housing in the area. This project presents a unique opportunity to contribute positively to the community by providing much-needed affordable housing, addressing a critical need in Los Angeles. The city's incentives for affordable housing projects enhance the viability and potential returns of this investment. Los Angeles has a significant demand for affordable housing, ensuring a strong market for these units and benefiting from the long-term appreciation potential in one of the most sought-after real estate markets in the country. This offering is priced to sell! Don't miss out on this incredible and rare RTI-approved affordable housing development opportunity in the heart of Los Angeles and to make a significant impact in the community while securing a valuable investment.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-07-24T17:43:29.617. 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.
www.deserthouseseekers.com/homes/152400376
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200 E 120th St Los Angeles, CA 90061

  • Price: $2,495,000
  • Status: Active
  • On Site: 15 Days
  • Updated: 92 min ago
  • MLS #: 24-412479
0
Beds
0
Baths
0
½ Baths
0.27
Acres
Neighborhood:
Metropolitan South
County:
Los Angeles
Area:
Metropolitan South
Property Description
We are pleased to present a remarkable development opportunity at 156 & 200 E. 120th St, Los Angeles, CA (two parcels 6086-002-011 & 012) . This ready-to-issue (RTI) project offers an excellent chance to create a transformative, 100% affordable housing community consisting of 44 units. The units are broken down into 38 one-bedroom, one-bath units, and 6 two-bedroom, one-bath units, catering to a diverse range of residents. Situated on a total land area of 18,486 square feet, this property is in a prime location in Los Angeles, just south of the 110 and 105 freeway interchange. It is conveniently located close to public transportation, with the Avalon Blue Line Station just 0.5 miles away. Additionally, SoFi Stadium is a mere 6 miles from the property, offering easy access to entertainment and events. Athens/Magic Johnson Park is only 0.8 miles away, providing recreational opportunities for future residents, and MLK Jr. Community Hospital is just 1.5 miles away, ensuring access to essential healthcare services. The approved project encompasses a 3-story building with a total area of 31,204 square feet. With RTI permits in place, you can start construction immediately, saving time and reducing the hassle of lengthy approval processes. In the 1-mile radius around the property, the median household income is approximately $36,000 with a population of about 30,000 residents. Within a 3-mile radius, the median household income is around $39,000, with a population of approximately 150,000 residents. These demographics highlight the significant need for affordable housing in the area. This project presents a unique opportunity to contribute positively to the community by providing much-needed affordable housing, addressing a critical need in Los Angeles. The city's incentives for affordable housing projects enhance the viability and potential returns of this investment. Los Angeles has a significant demand for affordable housing, ensuring a strong market for these units and benefiting from the long-term appreciation potential in one of the most sought-after real estate markets in the country. This offering is priced to sell! Don't miss out on this incredible and rare RTI-approved affordable housing development opportunity in the heart of Los Angeles and to make a significant impact in the community while securing a valuable investment.
Exterior Features

Lot Size Area 11667 View Description None View YN No

Property Features

Cable YN Yes Disclosures Building Plans Available Sale Type Standard Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Zoning LAR3

Listing provided courtesy of Omid Saleh DRE# of Keller Williams Realty: 310-375-3511.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-07-24T17:43:29.617. 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.
 
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Zwemmer Realty Group | Keller Williams Realty
75486 Augusta Drive
Indian Wells CA, 92210