CA > Los Angeles
Los Angeles, CA 90016,3444 Hillcrest Dr
Los Angeles, CA 90016,3444 Hillcrest Dr
Los Angeles, CA 90016,3444 Hillcrest Dr
Los Angeles, CA 90016,3444 Hillcrest Dr
Los Angeles, CA 90016,3444 Hillcrest Dr
Los Angeles, CA 90016,3444 Hillcrest Dr
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Max Lee

Max Lee

Max Lee

+1(213) 434-2433
$ 2,695,000
Est. payment | /mo

9,866 Sqft Lot

Save
$ 2,695,000
Est. payment | /mo
Save

9,866 Sqft Lot

Key Details

Property Type Vacant Land

Listing Status Pending

Purchase Type For Sale

MLS Listing ID 24-427273

Lot Size 9,866 Sqft

Acres 0.2265

Property Description

We are proud to present for sale a ready-to-issue (RTI) 48-unit, 100% affordable housing development on a 9,863 SF lot in the gentrifying neighborhood of West Adams, with the potential to add 3+/- ADUs after completion. The proposed development features a 27,409 SF, 5-story, TypeIII-A Construction slab on grade with a primarily stacked design. All 48 units are 1 bedroom, 1 bath with an average unit size of approximately 475 SF, plus hallways, elevators, and stairs. The restricted rent levels for the project are 2 very low-income units, 38 low-income units, 7 moderate-income units, and 1 manager's unit. The rent for the very low and moderate-income units can be found on HCD Schedule VI, while the rent for the low-income units can be found on TCAC Schedule IX. Additionally, the location of this property may attract Section 8 voucher tenants, increasing the potential income by around 20% for each unit. West Adams is known for its rich cultural history and vibrant community. Nearby parks include Vineyard Recreation Center, Jim Gilliam Recreation Center, and Baldwin Hills Recreation Center. Zero parking spaces will allow developers to avoid the high cost of on-grade parking. The property is conveniently located in a Metrohub off of Exposition Blvd, providing easy transportation running east and west from Downtown to Santa Monica. The Walk Score for this property is 79, indicating it is "Very Walkable" with "ExcellentTransit." The subject property is located within the Qualified Opportunity Zone (QOZ).

Location

State CA

County Los Angeles

Area Park Hills Heights

Zoning LARD1.5-1

Exterior

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Special Listing Condition Standard

TheMLS (CLAW)
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Listed by Keller Williams Beverly Hills
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"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(213) 434-2433

[email protected]

California, 91214-1304, USA

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3444 Hillcrest Dr