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4129 Avalon Boulevard

Los Angeles, CA 90011

$1,900,000

List Price

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Property Description

We are pleased to present a ready-to-issue (RTI) 48-unit, 100% affordable housing project available for sale on an 8,199 square foot lot. This 4-story apartment development is designed with efficiency in mind, featuring a recreation room that has the potential to be converted into an Accessory Dwelling Unit (ADU). The project includes 14 studios, 33 one-bedroom units, and 1 studio manager's unit, with a total gross buildable space of approximately 23,323 square feet and a total rentable space of approximately 17,126 square feet. The focus on housing affordability is highlighted by the allocation of 10 units for moderate-income households (110% AMI or below), 37 units for low-income households (80% AMI or below), and 1 market-rate manager's unit. Rent amounts for the very low and moderate-income units are available on HCD Schedule VI, while rent for the low-income units can be found on TCAC Schedule IX. Additionally, the property's location may attract Section 8 voucher tenants, potentially increasing income by around 20% for each unit. Situated in a primarily residential neighborhood near a hospital and park, the property offers ample access to street parking within a walkable radius. Despite having zero parking spaces, which reduces construction costs, the neighborhood is very walkable with excellent transit options, as reflected by a Walk Score of 79. The property is currently used as car storage, rented on a month-to-month basis for $1,800.

Listing Information

List Price $1,900,000
Status Active
MLS 24427447
Type Land
Lot Size 8,199
Structure Size N/A
DOM 16
Courtesy Of Keller Williams Beverly Hills
Listing Agent Jordan Petito DRE#02023714
Co-Listing Agent Dario Svidler DRE#01884474

Interior Features

Total Bedroom
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Exterior Information

Maps

home_work Nearby Properties

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$2,690,000

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shower N/A
straighten N/A
straighten 11,960
4214 Avalon Boulevard,

Los Angeles, CA 90011
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$1,000,000

king_bed N/A
straighten N/A
straighten 8,485
679 E 41St Place,

Los Angeles, CA 90011
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$1,000,000

king_bed 2
shower 1
straighten 1,101
straighten 8,485
679 E 41St Place,

Los Angeles, CA 90011
Image

$799,000

king_bed 4
shower 2
straighten 1,304
straighten 4,831
702 E 41St Place,

Los Angeles, CA 90011
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$5,250/month

king_bed 5
shower 3
straighten 1,800
straighten 5,114
640 E 42Nd Place,

Los Angeles, CA 90011

Listing information courtesy of: Jordan Petito, Dario Svidler, Keller Williams Beverly Hills . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 30th, 2024 at 2:14 AM 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.