6719 S Figueroa Street, Los Angeles, CA 90003

• 9,807 sqft

Property Description

We are proud to offer an outstanding, Ready-to-Issue 58-unit affordable housing development opportunity in the heart of Los Angeles at 6719 S Figueroa St., Los Angeles, CA 90003, located within the Los Angeles State Enterprise Zone. This prime project sits on a 9,805 SF lot and features a 4-story Type V-A building designed under AB 1763 and AB 2345 incentives, maximizing both density and affordability. With a total floor area of 24,774 SF and 20,049 SF of rentable space, the development includes 33 studio units, 25 one-bedroom units, and 1 market-rate manager's unit. Of these, 45 units are affordable to low-income tenants (80% AMI or lower), while 12 units are reserved for moderate-income residents (120% AMI or lower).Notably, this 100% affordable housing project eliminates the need for parking, significantly reducing construction costs and enhancing long-term affordability. The rent structure aligns with HCD Schedule VI and TCAC Schedule IX, ensuring a sustainable income model for developers. The property is located just 410 ft from public transit and close to essential amenities, including schools, parks, and healthcare centers, making it an ideal home for individuals and families. Positioned in a vibrant and transforming Los Angeles community, this site offers convenient acces

Listing Status:

Active

Date Added:

January 30, 2025 at 06:00AM

Listing Office:

Keller Williams Beverly Hills : 310-432-6400

Listing Agent:

Jordan Petito : 310-734-2245

MLS ID:

CL25496603

Location

• County: Los Angeles

Lot

• Zoning: C2-16013018037
• View: None

This listing courtesy of Jordan Petito, Keller Williams Beverly Hills