4303 W Pico Boulevard
Los Angeles, CA 90019
0.38 acres | #25491423
Description
We are pleased to present a unique affordable housing development opportunity at 4303-4313 W Pico Blvd in Mid City. Plans call for 152 income-restricted housing units with an ideal unit mix of 81 singles and 71 one-bedrooms with no parking required. The discount to surrounding market rents support both a voucher based and workforce housing lease-up strategy, allowing a developer multiple lease-up options and flexibility at completion. The six-story mid-rise project is designed with a stacked design, utilizing Type III over Type I construction for expedited construction and reduced costs. The project also includes 7,747 SF of open space, allowing a developer to provide additional amenities or supportive housing services for residents. The project is offered at a low $39,474 per buildable unit, offering a privately funded developer the opportunity to fund the entire project without tax credits or government subsidies. The existing two retail units will be delivered vacant at the close of escrow, allowing a developer to break ground and start on the project once permits have been pulled.
Property Details
- CountyLos Angeles
- Original List Price$6,000,000
- Property TypePurchase
- MLS #25491423
- MLS #25491423
- Cost6000000
- Acres0.3791
- Property SubtypeLand
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Neema Ahadian (#CLW-C104547)
Listing Office: Marcus & Millichap (#CLW-X7515101)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
