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3444 Hillcrest Dr
Los Angeles, CA 90016
RTI 48 Unit Afford. Proj. - Potential 3+ ADUs · Land For Sale
·
0.23 AC
Investment Highlights
- Ready-to-Issue Plans for 48 Unit 100% Affordable Housing Development
- Type III-A Construction
- Rent Schedules: HCD Schedule VI and TCAC Schedule IX
- Potential to add 3+/- ADUs after completion
- Zoning is RD1.5-1 in the Tier 3 TOC
- Metro access 0.3 miles from EXPO Line Farmdale Station
Executive Summary
PartnersCRE is proud to present for sale a ready-to-issue (RTI) 48-unit, 100% affordable housing development on a 9,863 SF lot in the gentrifying neighborhood of West Adams, with the potential to add 3+/- ADUs after completion.
The proposed development features a 27,409 SF, 5-story, Type III-A Construction slab on grade with a primarily stacked design. All 48 units are 1 bedroom, 1 bath with an average unit size of approximately 475 SF, plus hallways, elevators, and stairs.
The restricted rent levels for the project are: 2 very low-income units, 38 low-income units, 7 moderate-income units, and 1 manager's unit. The rent for the very low and moderate-income units can be found on HCD Schedule VI, while the rent for the low-income units can be found on TCAC Schedule IX. Additionally, the location of this property may attract Section 8 voucher tenants, increasing the potential income by around 20% for each unit.
West Adams is known for its rich cultural history and vibrant community. Nearby parks include Vineyard Recreation Center, Jim Gilliam Recreation Center, and Baldwin Hills Recreation Center.
Zero parking spaces will allow developers to avoid the high cost of on-grade parking. The property is conveniently located in a Metro hub off of Exposition Blvd, providing easy transportation running east and west from Downtown to Santa Monica. The Walk Score for this property is 79, indicating it is "Very Walkable" with "Excellent Transit." The subject property is located within the Qualified Opportunity Zone (QOZ).
Property will be delivered vacant at COE.
The proposed development features a 27,409 SF, 5-story, Type III-A Construction slab on grade with a primarily stacked design. All 48 units are 1 bedroom, 1 bath with an average unit size of approximately 475 SF, plus hallways, elevators, and stairs.
The restricted rent levels for the project are: 2 very low-income units, 38 low-income units, 7 moderate-income units, and 1 manager's unit. The rent for the very low and moderate-income units can be found on HCD Schedule VI, while the rent for the low-income units can be found on TCAC Schedule IX. Additionally, the location of this property may attract Section 8 voucher tenants, increasing the potential income by around 20% for each unit.
West Adams is known for its rich cultural history and vibrant community. Nearby parks include Vineyard Recreation Center, Jim Gilliam Recreation Center, and Baldwin Hills Recreation Center.
Zero parking spaces will allow developers to avoid the high cost of on-grade parking. The property is conveniently located in a Metro hub off of Exposition Blvd, providing easy transportation running east and west from Downtown to Santa Monica. The Walk Score for this property is 79, indicating it is "Very Walkable" with "Excellent Transit." The subject property is located within the Qualified Opportunity Zone (QOZ).
Property will be delivered vacant at COE.
Property Facts
1 Lot Available
Lot
| Price | $2,095,000 | Lot Size | 0.23 AC |
| Price Per AC | $9,253,533.57 |
| Price | $2,095,000 |
| Price Per AC | $9,253,533.57 |
| Lot Size | 0.23 AC |
Property Taxes
| Parcel Number | 5046-007-017 | Improvements Assessment | $306,000 |
| Land Assessment | $765,000 | Total Assessment | $1,071,000 |
Property Taxes
Parcel Number
5046-007-017
Land Assessment
$765,000
Improvements Assessment
$306,000
Total Assessment
$1,071,000
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