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5436 Broadway

Los Angeles, CA 90037

$1,776,000

Listed Price
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bed Beds

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shower Baths

N/A sqft

straighten $294 / sqft

calendar_month Built

Property Description

This is an affordable housing development opportunity at 5436 S Broadway, a corner lot in in the South Park neighborhood ofLos Angeles. The 6,021 SF lot will be delivered fully entitled for 34 income-restricted housing units and 1 manager unit with no parking required. The project's central infill location and proximity to major employment hubs such as Downtown LA, Vernon, Commerce, and Huntington Park support multiple lease-up strategies including filling units through PATH, LAHSA or Section 8. Plans call for an efficient four-story project, utilizing Type V-A construction fora stacked design reducing construction costs for the developer. The existing structures will be delivered vacant at the close of escrow, allowing a developer to break ground immediately, without navigating the planning process or taking on additional risk through pending ordinances that are limiting the development of similar high density affordable projects. The finished project totals 16,358 SF and has a desirable unit mix of 10 singles (255-315 SF) and 25 one-bedrooms (300-430 SF). The project is offered at a low price per buildable unit, allowing a privately funded developer the opportunity to develop a high yielding project and capture a strong return on cost with zero tax credits or government subsidies. In addition, the affordability of the project opens avenues of mission driven financing through CDFIs or mission driven lenders (contact agent for details). Located in a dense location of South Los Angeles with an easy commute throughout the city with access to the 110 Freeway; close to multiple Metro local lines along S Broadway.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 5436 Broadway
City Los Angeles
State CA
Zip 90037
County Los Angeles
Listing Agent Neema Ahadian DRE#01346750
Courtesy Of Marcus & Millichap
MLS 24398619
List Price $1,776,000
Status Active
Type Land
Structure Size N/A
Lot Size 6,023
DOM 16

Exterior Information

Maps

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Listing information courtesy of: Neema Ahadian, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of May 31st, 2024 at 12:47 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.