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Listed by Rana Khanjani • Sync Brokerage
$2,340,000
Est. payment /mo
6,258 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Other Residential Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR25094654
Lot Size 6,258 Sqft
Property Sub-Type Other Residential Land
Source California Regional MLS
Property Description
ime Pico-Union RTI Development - 39 Units | 100% Affordable Housing | TOC Tier 8. Incredible opportunity to develop a fully RTI-approved 39-unit affordable housing project in the heart of Pico-Union-one of LA's most vibrant, high-demand rental markets. This 7,406 SF R3-zoned lot has been upgraded to TOC Tier 8, maximizing entitlements and HACLA rents. Approved for 30 one-bedroom units and 9 studios, the project includes approx. 16,157 SF of rentable space and 19,008 SF of gross building area. Projected monthly income: $104,832 (based on HACLA Section 8 rents). Offered at $60,000 per unit - Asking Price: $2,340,000. Surrounded by major employment hubs (DTLA, USC, Koreatown), public transit, and freeway access. This Tier 8 RTI project is a golden opportunity for developers and impact-driven investors seeking immediate value, strong cash flow, and premium incentives in one of LA's most underbuilt and transit-rich communities.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning PRKG
Exterior
View None
Building
Water District - Public
Others
Tax ID 5135028007
Special Listing Condition Not Applicable
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