4129 Avalon Boulevard

Los Angeles, CA 90011
$1,900,000
Courtesy of Keller Williams Beverly Hills

Description

We are pleased to present a ready-to-issue (RTI) 48-unit, 100% affordable housing project available for sale on an 8,199 square foot lot. This 4-story apartment development is designed with efficiency in mind, featuring a recreation room that has the potential to be converted into an Accessory Dwelling Unit (ADU). The project includes 14 studios, 33 one-bedroom units, and 1 studio manager's unit, with a total gross buildable space of approximately 23,323 square feet and a total rentable space of approximately 17,126 square feet. The focus on housing affordability is highlighted by the allocation of 10 units for moderate-income households (110% AMI or below), 37 units for low-income households (80% AMI or below), and 1 market-rate manager's unit. Rent amounts for the very low and moderate-income units are available on HCD Schedule VI, while rent for the low-income units can be found on TCAC Schedule IX. Additionally, the property's location may attract Section 8 voucher tenants, potentially increasing income by around 20% for each unit. Situated in a primarily residential neighborhood near a hospital and park, the property offers ample access to street parking within a walkable radius.Despite having zero parking spaces, which reduces construction costs, the neighborhood is very walkable with excellent transit options, as reflected by a Walk Score of 79. The property is currently used as car storage, rented on a month-to-month basis for $1,800.
read more

  • Property Details
      • Acres:0.1882
      • Property type:Purchase
      • County:Los Angeles
      • Original List Price:$1, 900, 000
      • MLS #:24427447
      • Cost:1900000
      • Property subtype:Land
      • MLS #:24427447

Location

The Alcantara GroupReal Estate Group
$
years

Down Payment

$
%
10.0%

Interest Rate

%
6.0%

Tax Rate

%
2.6%
$
$
annually
$
monthly

Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

Estimated Monthly Payment
$0.00
Loan Amount
$0.00