7417 S Broadway Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90003
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL25505961
HOA Y/N No
Lot Size 0.287 Acres
Acres 0.29
Property Sub-Type Unimproved Land
Property Description
We are pleased to present an affordable housing development opportunity at 7417-7421 S Broadway, located south of W Florence Ave just off the 110 Freeway. The 12,506 SF lot will be delivered fully entitled for 134 income-restricted housing units and 1 manager unit with no parking required. The project's central location and proximity to major employment hubs are for prime for a high velocity workforce housing lease up strategy, allowing a mission driven developer the opportunity to support the missing middle segment given the project's discount to surrounding market rents. Plans call for an efficient seven story mid-rise project, utilizing Type III over Type I construction for a fully stacked design aimed at reducing construction costs. The existing retail structure will be delivered vacant at the close of escrow, allowing a developer to break ground immediately, without navigating the planning process or taking on additional risk through pending ordinances projects. The finished project totals 59,814SF and has a desirable unit mix of 25 singles and 110 one-bedrooms. The project also offers 13,500 SF of open space for recreation or supportive services. The lot is offered at a low $28,889 per buildable unit, allowing a privately funded developer the opportunity to develop a high y
Location
State CA
County Los Angeles
Zoning C2-1
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 6031009029