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Listed by Rana Khanjani • Sync Brokerage
$2,300,000
Est. payment /mo
9,024 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR25093860
Year Built 1921
Lot Size 9,024 Sqft
Source California Regional MLS
Property Description
Shovel-Ready 46-Unit RTI Development in Prime Koreatown: Incredible opportunity to develop a fully RTI-approved 46-unit 100% affordable housing project in the heart of Koreatown-one of the most dynamic and densely populated rental markets in Los Angeles. The 9,024 SF R3-zoned lot is approved for for 2 two-bedroom, 36 one-bedroom units and 8 studios,, totaling approx. 15,703 SF of rentable space and 20,510 SF of gross building area. Projected monthly rental income is approx. $109,072, based on current HACLA Section 8 rents-offering immediate and reliable long-term cash flow with significant upside. Located in the vibrant 90004 ZIP code, this transit-rich neighborhood is surrounded by major employment hubs (Downtown LA, Hollywood, Wilshire Center), Metro stations, and an endless mix of restaurants, shopping, and services. High walkability, strong tenant demand, and limited affordable housing supply make this a premier opportunity for developers and investors looking to secure a strong return in one of LA's hottest submarkets.
Location
State CA
County Los Angeles
Area Krea - Koreatown
Interior
Cooling Central AC
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 5518023004
Special Listing Condition Not Applicable
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