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2424 Michigan Ave
Los Angeles, CA 90033
RTI - Build 17 Units in Boyle Heights · Land For Sale
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0.15 AC
PROPERTY FACTS
| Property Type | Land | Proposed Use | Apartment Units |
| Property Subtype | Residential | Total Lot Size | 0.15 AC |
| Zoning | LAR3 (Tier 3 TOC) | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.15 AC |
| Zoning | LAR3 (Tier 3 TOC) |
DESCRIPTION
Amazing opportunity to acquire this affordable housing, development-ready site in East Los Angeles. The site is RTI to build 17 units designed as a 100% affordable housing project, and as such, takes advantage of density bonus incentives offered through the Transit Oriented Communities program in The City of Los Angeles. The building is designed to be economically and readily built, engineered for efficiency. In addition, ZERO parking is required, thereby providing tremendous savings on the cost of construction. This 100% affordable, 3-story multifamily development project proposes to provide 17 units with a unit mix of all one-bedroom, one-bathrooms - each with it's own private balcony or patio. The project also includes a bicycle room and on-site laundry. Currently, the property is a vacant lot so there are no relocation or demolition costs for the Buyer. Projected Developer Profit: ~$2,500,000!!! CONTACT AGENT FOR OFFERING MEMORANDUM WHICH INCLUDES FINANCIAL PROJECTIONS
PROPERTY TAXES
| Parcel Number | 5180-002-002 | Improvements Assessment | $0 |
| Land Assessment | $1,724,463 | Total Assessment | $1,724,463 |
PROPERTY TAXES
