142 S Mountain View Avenue

Los Angeles, CA 90057

$1,295,000

List Price

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Property Description

PartnersCRE is proud to present for sale a fully entitled ED1-vested 22 unit 100% Affordable Housing Project in a gentrifying Low-Density neighborhood.Designed with low cost efficiencies in mind, this 3-story partially stacked on-grade design featuring 22 x 1BR+1BA units (for a total of around 12,780 SF of rentable space), along with a large office space and bike storage.Zero parking spaces will allow a developer to avoid the high cost of on grade or subterranean parking in this Very Walkable neighborhood with Excellent Transit (according to Walk Score of 89 "Very Walkable").The future potential income from this project will benefit from access to HCD Schedule 6 (20% of total units) and TCAC Schedule 9 (80% of the total units), which are currently standard in Los Angeles for 100% Affordable Projects. Additionally, the location of this property may attract Section 8 voucher tenants increasing the potential income by around 20% for each unit.Westlake is one of the more centrally located parts of LA within close proximity to Echo Park, Silverlake, Downtown LA, Larchmont Village, and many more prominent locations.

Listing Information

List Price $1,295,000
Status Active
MLS 24406801
Type Land
Lot Size 6,245
Structure Size N/A
DOM 71
Courtesy Of Keller Williams Beverly Hills
Listing Agent Jordan Petito DRE#02023714
Co-Listing Agent Dario Svidler DRE#01884474

Interior Features

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Exterior Information

Maps

Listing information courtesy of: Jordan Petito, Dario Svidler, Keller Williams Beverly Hills . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 26th, 2024 at 12:07 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.