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MLS:24-428063

4284 Western, Los Angeles, CA 90062

Priced at: $1,195,000
Bedrooms:
16
Bathrooms (Full):
17
Bathrooms (Half):
0
Lot SqFt:
5,787 Sq Ft
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.

Fees

Features

Equipment/ Appliances:
  • Cable
  • Garbage Disposal
Parking:
  • Offsite
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MLS: 24-428063
4284 Western, Los Angeles, CA 90062
Price: $1,195,000
Listing courtesy of Keller Williams Realty Westside

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"Property information shown has been provided from various sources, which can include the seller and/or public records. It is believed reliable but not guaranteed and should not be relied upon without independent verification."

Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. All dimensions are estimates only and may not be exact measurements. Square Footages are approximate. Floor plans and development plans are subject to change. The sketches, renderings, graphic materials, plans, specifics, terms, conditions and statements are proposed only, and the developer, the management company, the owners and other affiliates reserve the right to modify, revise or withdraw any or all of same in their sole discretion and without prior notice. All pricing and availability is subject to change. The information is to be used as a point of reference and not a binding agreement.

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