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1108 Manzanita St - Prime SilverLake 54 Unit 100% RTI Afford Proj 0.18 Acres of Residential Land Offered at $2,350,000 in Los Angeles, CA 90029
INVESTMENT HIGHLIGHTS
- 54 Unit 100% Affordable Housing Project
- Type III-B Construction - Stacked Unit Layout
- In the heart of Silver Lake’s Sunset Junction - by the Metro Subway Station
- $43.5k per Door - Ready-to-Issue at COE
- Units from 270 to 460 SF w/ HCD 6 & TCAC 9 Schedule Rents
- “Walker’s Paradise” - Walk Score of 95
EXECUTIVE SUMMARY
At a cul-de-sac on an alley just steps down from Sunset Blvd., past a community garden, this beautifully designed stacked project will sit on a 7,688 SF lot, utilizing Type IIIB construction for the five-story layout; under AB 1763 incentives, this project was allowed unlimited density for affordable housing.
With a total proposed Gross Floor Area of 25,750 SF, the Development Project includes 28 studio apartments and 26 one-bedroom units, all (but the Manager’s Unit) designated for Affordable Housing.
The approved unit breakdown consists of 2 Very Low-Income units, 40 Low-Income Units, 11 Moderate-Income Units, and 1 Market-Rate Manager’s Unit.
The design eliminates the need for parking, relying on the rapid Bus System on Sunset and the Metro B Line subway (less than a mile away), and the Walker’s Paradise designation, reducing construction costs along with the stacked-design. The residential units range from 280 to 460 SF, designed to maximize affordability while optimizing rental income per square foot.
Located in the heart of Silver Lake, in Sunset Junction, this property offers an unmatched urban lifestyle with trendy cafes, boutique shops, top-tier and affordable dining within walking distance. The prime Transit-Priority Zone location ensures seamless connectivity, with multiple Bus Lines and Metro access nearby. Additionally, the area boasts an exceptional Walk Score of 95, allowing residents to fully embrace a car-free lifestyle.
With all entitlements and approvals secured, the project will be delivered in Ready-to-Issue status and will be delivered vacant at the close of escrow, providing an immediate and seamless path to development.
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $2,350,000 | Lot Size | 0.18 AC |
| Price Per AC | $13,318,522.38 |
| Price | $2,350,000 |
| Price Per AC | $13,318,522.38 |
| Lot Size | 0.18 AC |
DESCRIPTION
PRICE REDUCED! PartnersCRE is proud to offer an outstanding 54 Unit 100% Affordable Housing Development Opportunity in one of the most sought-after locations, in desirable Silver Lake, right near Sunset Junction. The Project will be delivered RTI at COE. At a cul-de-sac on an alley just steps down from Sunset Blvd., past a community garden, this beautifully designed stacked project will sit on a 7,688 SF lot, utilizing Type IIIB construction for the five-story layout; under AB 1763 incentives, this project was allowed unlimited density for affordable housing. With a total proposed Gross Floor Area of 25,750 SF, the Development Project includes 28 studio apartments and 26 one-bedroom units, all (but the Manager’s Unit) designated for Affordable Housing. The approved unit breakdown consists of 2 Very Low-Income units, 40 Low-Income Units, 11 Moderate-Income Units, and 1 Market-Rate Manager’s Unit. The design eliminates the need for parking, relying on the rapid Bus System on Sunset and the Metro B Line subway (less than a mile away), and the Walker’s Paradise designation, reducing construction costs along with the stacked-design. The residential units range from 280 to 460 SF, designed to maximize affordability while optimizing rental income per square foot. Located in the heart of Silver Lake, in Sunset Junction, this property offers an unmatched urban lifestyle with trendy cafes, boutique shops, top-tier and affordable dining within walking distance. The prime Transit-Priority Zone location ensures seamless connectivity, with multiple Bus Lines and Metro access nearby. Additionally, the area boasts an exceptional Walk Score of 95, allowing residents to fully embrace a car-free lifestyle. With all entitlements and approvals secured, the project will be delivered in Ready-to-Issue status and will be delivered vacant at the close of escrow, providing an immediate and seamless path to development.
PROPERTY TAXES
| Parcel Number | 5429-010-014 | Improvements Assessment | $297,668 |
| Land Assessment | $893,005 | Total Assessment | $1,190,673 |
PROPERTY TAXES
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1108 Manzanita St - Prime SilverLake 54 Unit 100% RTI Afford Proj
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