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$ 2,600,000
Est. payment | /mo
0.37 Acres Lot
$ 2,600,000
Est. payment | /mo
0.37 Acres Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25478485
HOA Y/N No
Lot Size 0.367 Acres
Lot Dimensions Assessor
Property Description
We are excited to offer a premier opportunity to acquire a Ready-to-Issue (RTI), 91-unit, fully Affordable Housing Development, set on a spacious 16,010 SF lot in the highly sought-after and rapidly evolving Reseda neighborhood. This prime site is perfectly situated for accessibility, just moments away from key local destinations like the Van Nuys Airport and Warner Center, providing seamless access to transportation, shopping, and major employment centers. Designed for both efficiency and cost-effectiveness, this 4-story, stacked on-grade development features a thoughtfully planned unit mix, including 23 studios, 62 one-bedroom units, and 6 two-bedroom units, offering approximately 42,011 SF of buildable space. Set in a primarily residential area, the site offers excellent street parking availability, as well as a walkable environment with essential services and public transit just a short stroll away. The project benefits from eligibility for participation in the HCD Schedule VI moderate-income and TCAC Schedule IX low-income programs, both of which are standard for 100% affordable housing developments in Los Angeles. With the potential to attract Section 8 voucher tenants, rental income could increase by as much as 20% per unit, providing significant financial upside. A standout feature of this development is its zero parking requirement, resulting in substantial cost savings and a streamlined, transit-friendly design. With a Walk Score of 88, the neighborhood is rated as "Very Walkable," making it a perfect location for residents who prioritize ease of access to transit and daily amenities. This is an exceptional opportunity for investors looking to capitalize on one of Los Angeles' most promising affordable housing projects.
Location
State CA
County Los Angeles
Area Res - Reseda
Zoning (T)[Q]RAS4-1L-CDO-RIO
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
New Construction No
Others
Senior Community No
Tax ID 2126022005
Special Listing Condition Standard
Listed by Jordan Petito Keller Williams Beverly Hills #02023714
NEARBY SCHOOL & BUSINESS
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