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8301 S Western Ave

Los Angeles, CA 90047
  • $2,340,000
  • STATUS: Active
  • ON SITE: 42 Days
  • MLS #: 24-398609
UPDATED: 138 min ago
$2,340,000
  • 0
    BEDS
  • 0.1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

8301 S Western Ave is in a corner lot in in the Manchester Square neighborhood of Los Angeles.The 9,012 SF lot will be delivered fully entitled for 51 income restricted housing units and 1 manager unit with no parking required. The project's central infill location and proximity to major employment hubs such as Inglewood, the South Bay, CulverCity, and Huntington Park support multiple lease-up strategies including filling units through PATH, LAHSA or Section 8. Plans call for an efficient four-story project, utilizing Type V-A construction for a stacked design reducing construction costs for the developer. The existing retail structure will be delivered vacant at the close of escrow, allowing a developer to break ground immediately, without navigating the planning processor taking on additional risk through pending ordinances that are limiting the development of similar high density affordable projects. The finished project totals 25,174 SF and has a desirable unit mix of 10 singles (301-363 SF), 41 one-bedrooms (366-476 SF), and one two-bedroom (509 SF). The project is offered at a low price per buildable unit, allowing a privately funded developer the opportunity to develop a high yielding project and capture a strong return on cost with zero tax credits or government subsidies. In addition, the affordability of the project opens avenues of mission driven financing throughCDFIs or mission driven lenders (contact agent for details). Located in a dense location of South Los Angeles, two miles from SoFi Stadium, Hollywood Park Casino, Kia Forum, and the future Intuit Dome; close to multiple Metro LocalLine bus stops along S Western Ave and W Manchester AveArlington Heights Elementary, Johnnie L. Cochran Jr MiddleSchool, St Paul's School, City Language Immersion CharterSchool, and Los Angeles Technology Center. 6035-017-001, 6035-017-002, 6035-017-003

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-07-13T20:42:59.927. 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/151180792
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8301 S Western Ave Los Angeles, CA 90047

  • Price: $2,340,000
  • Status: Active
  • On Site: 42 Days
  • Updated: 138 min ago
  • MLS #: 24-398609
0
Beds
0
Baths
0
½ Baths
0.1
Acres
Neighborhood:
Metropolitan Southwest
County:
Los Angeles
Area:
Metropolitan Southwest
Property Description
8301 S Western Ave is in a corner lot in in the Manchester Square neighborhood of Los Angeles.The 9,012 SF lot will be delivered fully entitled for 51 income restricted housing units and 1 manager unit with no parking required. The project's central infill location and proximity to major employment hubs such as Inglewood, the South Bay, CulverCity, and Huntington Park support multiple lease-up strategies including filling units through PATH, LAHSA or Section 8. Plans call for an efficient four-story project, utilizing Type V-A construction for a stacked design reducing construction costs for the developer. The existing retail structure will be delivered vacant at the close of escrow, allowing a developer to break ground immediately, without navigating the planning processor taking on additional risk through pending ordinances that are limiting the development of similar high density affordable projects. The finished project totals 25,174 SF and has a desirable unit mix of 10 singles (301-363 SF), 41 one-bedrooms (366-476 SF), and one two-bedroom (509 SF). The project is offered at a low price per buildable unit, allowing a privately funded developer the opportunity to develop a high yielding project and capture a strong return on cost with zero tax credits or government subsidies. In addition, the affordability of the project opens avenues of mission driven financing throughCDFIs or mission driven lenders (contact agent for details). Located in a dense location of South Los Angeles, two miles from SoFi Stadium, Hollywood Park Casino, Kia Forum, and the future Intuit Dome; close to multiple Metro LocalLine bus stops along S Western Ave and W Manchester AveArlington Heights Elementary, Johnnie L. Cochran Jr MiddleSchool, St Paul's School, City Language Immersion CharterSchool, and Los Angeles Technology Center. 6035-017-001, 6035-017-002, 6035-017-003
Exterior Features

Lot Size Area 9012 View Description None View YN No

Property Features

Cable YN No Disclosures None Sale Type Standard Source Lot Size Area Other Zoning LAC2

Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap: 310-909-5500.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-07-13T20:42:59.927. 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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