142 Mountain View Ave, Los Angeles, CA 90057
0.14 Acres of Residential Land Offered at $1,295,000 USD in Los Angeles, CA 90057
For Sale
Active
4 pictures
Asking Price $1,295,000
- Property Type
-
Land
- Square Feet
- 6,098 SF
Listing Contacts
Dario Svidler
Jordan Petito
Property Overview
PartnersCRE is proud to present for sale a fully entitled ED1-vested 22 unit 100% Affordable Housing Project in a gentrifying Low-Density neighborhood.
Designed with low cost efficiencies in mind, this 3-story partially stacked on-grade design featuring 22 x 1BR+1BA units (for a total of around 12,780 SF of rentable space), along with a large office space and bike storage.
Zero parking spaces will allow a developer to avoid the high cost of on grade or subterranean parking in this Very Walkable neighborhood with Excellent Transit (according to Walk Score of 89 “Very Walkable”).
The future potential income from this project will benefit from access to HCD Schedule 6 (20% of total units) and TCAC Schedule 9 (80% of the total units), which are currently standard in Los Angeles for 100% Affordable Projects. Additionally, the location of this property may attract Section 8 voucher tenants increasing the potential income by around 20% for each unit.
Westlake is one of the more centrally located parts of LA within close proximity to Echo Park, Silverlake, Downtown LA, Larchmont Village, and many more prominent locations.
Designed with low cost efficiencies in mind, this 3-story partially stacked on-grade design featuring 22 x 1BR+1BA units (for a total of around 12,780 SF of rentable space), along with a large office space and bike storage.
Zero parking spaces will allow a developer to avoid the high cost of on grade or subterranean parking in this Very Walkable neighborhood with Excellent Transit (according to Walk Score of 89 “Very Walkable”).
The future potential income from this project will benefit from access to HCD Schedule 6 (20% of total units) and TCAC Schedule 9 (80% of the total units), which are currently standard in Los Angeles for 100% Affordable Projects. Additionally, the location of this property may attract Section 8 voucher tenants increasing the potential income by around 20% for each unit.
Westlake is one of the more centrally located parts of LA within close proximity to Echo Park, Silverlake, Downtown LA, Larchmont Village, and many more prominent locations.
Property Details
- Property Subtype
- Residential/Multifamily
Highlights
- 22 Unit, Entitled 100% Affordable Housing
- 3 Story walkup, Type 5 Construction with no elevator
- Cost efficient design!
- Lot Dimensions: 50’ x 125’
- Proposed development includes all 1 bedroom units
- Walk Score of 89 “Very Walkable”
All available spaces
- Space
- Lot 1
- Size
- 6,098 SF
- Price
- $1,295,000
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