4284 S Western Avenue, Los Angeles, CA 90062
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Listed Price :
$1,195,000
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Beds :
16
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Baths :
17
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Property Size :
N/A sqft
Property Description
This ready-to-issue (RTI) project offers an excellent chance to Develop 17 units consisting of 16 Low income 1 bed 1 bath units & one single unit at Market rent, Type VA construction, three story on-grade with a total area of 10,719 sqft, no parking, very low cost construction estimated at $2,000,000. Proforma monthly rent $29,690 or yearly $ 356,280 which will bring the value of the property around $4,990,000 with GRM 14 providing around $1,600,000 profit potential on the Development, price per unit of $293,000 resale value. Additional space possible for Leasing/Management office or ADU. Conveniently located close to public transportation, offering easy access to entertainment and events providing recreational opportunities for future residents, start construction immediately, saving time and reducing the hassle of lengthy approval processes. This project presents a unique opportunity to contribute positively to the community by providing much-needed affordable housing, addressing a critical need in Los Angeles. The city's incentives for affordable housing projects enhance the viability and potential returns on this investment. Los Angeles has a significant demand for affordable housing, ensuring a strong market for these units and benefiting from the long-term appreciation potential in one of the most sought after real estate markets in the country. This offering is priced to sell! Existing structure is a single family house which will be delivered vacant at closing.
Interior Features
| Laundry Information |
| Location(s) |
Inside |
| Bedroom Information |
| Bedrooms |
16 |
| Bathroom Information |
| Bathrooms |
17 |
Listing Information
| Address |
4284 S Western Avenue |
| City |
Los Angeles |
| State |
CA |
| Zip |
90062 |
| County |
Los Angeles |
| Listing Agent |
Eliza Kerndian DRE #01398836 |
| Co-Listing Agent |
Mona Kerendian DRE #01758802 |
| Courtesy Of |
Keller Williams Realty Westside |
| List Price |
$1,195,000 |
| Status |
Active |
| Type |
Residential |
| Subtype |
Single Family Residence |
| Structure Size |
N/A |
| Lot Size |
5,787 |
Listing information courtesy of: Eliza Kerndian, Mona Kerendian, Keller Williams Realty Westside. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 17th, 2024 at 11:22 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
