1422 Imperial Hwy, Los Angeles, CA 90059
0.54 Acres of Commercial Land Offered at $4,675,000 USD in Los Angeles, CA 90059
For Sale
Active
5 pictures
Asking Price $4,675,000
- Property Type
-
Land
- Square Feet
- 23,522 SF
Listing Contacts
Patricia Escobar
Neema Ahadian
Ben Lee
Property Overview
The Neema Group is pleased to present an affordable housing development opportunity at 1422 E Imperial Hwy, located just off of the 105 Freeway between S Central Ave & Compton Ave. The 23,435 SF lot will be delivered fully entitled for 120 income-restricted housing units and 1 manager unit, with no parking required.
The project’s central infill location and proximity to major employment hubs such as Rancho Dominguez, Compton, South Gate, and South Los Angeles support multiple lease-up strategies including filling units through PATH, LAHSA or Section 8.
Plans call for an efficient four-story project, utilizing Type V-A construction for a stacked design reducing construction costs for the developer. The lot 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 that are limiting the development of similar high density affordable projects.
The finished project totals 67,112 SF and has a desirable unit mix of eight singles (290 SF), 108 one-bedrooms (430-460 SF), and five two-bedroom (505-615 SF)
The project is offered at a low $38,958 price per buildable unit, allowing a privately funded developer the opportunity to develop a high yielding project and capture a strong return on cost with zero tax credits or government subsidies. In addition, the affordability of the project opens avenues of mission driven financing through CDFIs or mission driven lenders (contact agent for details).
Located in a dense location of South Los Angeles, just south of Nickerson Gardens and less than a mile from the Martin Luther King Jr Community Hospital. The access to the 105 Freeway allows for a convenient commute throughout Los Angeles, the South Bay, and throughout the Mid-Counties.
The project’s central infill location and proximity to major employment hubs such as Rancho Dominguez, Compton, South Gate, and South Los Angeles support multiple lease-up strategies including filling units through PATH, LAHSA or Section 8.
Plans call for an efficient four-story project, utilizing Type V-A construction for a stacked design reducing construction costs for the developer. The lot 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 that are limiting the development of similar high density affordable projects.
The finished project totals 67,112 SF and has a desirable unit mix of eight singles (290 SF), 108 one-bedrooms (430-460 SF), and five two-bedroom (505-615 SF)
The project is offered at a low $38,958 price per buildable unit, allowing a privately funded developer the opportunity to develop a high yielding project and capture a strong return on cost with zero tax credits or government subsidies. In addition, the affordability of the project opens avenues of mission driven financing through CDFIs or mission driven lenders (contact agent for details).
Located in a dense location of South Los Angeles, just south of Nickerson Gardens and less than a mile from the Martin Luther King Jr Community Hospital. The access to the 105 Freeway allows for a convenient commute throughout Los Angeles, the South Bay, and throughout the Mid-Counties.
Property Details
- Property Subtype
- Commercial
All available spaces
- Space
- Lot 1
- Size
- 23,522 SF
- Price
- $4,675,000
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