RTI Affordable Housing Development
1156 N Kingsley Dr, Los Angeles, CA 90029
- Added:
- Oct 22, 2025
- Days on Market:
- 199
- Last Refresh:
- May 8 at 9:06 pm
Property Features for 1156 N Kingsley Dr
General Information
- Property type
- Land
- Property subtype
- Other
- Zoning
- LARD1.5
- Standard status
- Active
- APN
- 5537-015-006
- Size
- 21,753 SF
- Lot size
- 0.18 Acres
Listing agent Daniel Shamooelian License #01984269 (310) 651-1800
Listing office Keller Williams Beverly Hills 439 N Canon Dr. Suite 300, Beverly HIlls, CA (310) 432-6400
Listing date Oct 22, 2025
MLS# 25607383
Listing URL
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Ready‑to‑Issue (RTI) permits allow for immediate construction of a 49‑unit affordable housing development.
- Priced under $34,000 per unit, representing exceptional value for a new development in Hollywood.
- Located in a Walker's Paradise (Walk Score of 92) near the Vermont/Santa Monica Metro Red Line Station, premier shopping, and dining.
- Designed for maximum efficiency with 48 one‑bedroom units and 1 studio, totaling approximately 21,753 rentable square feet.
- Affordability mix caters to various income levels, including moderate‑income, low‑income, and a market‑rate manager's unit, with potential for Section 8 voucher tenants.
- Located within a Qualified Opportunity Zone, offering potential tax incentives for investors (buyer to verify).
Overview
This is a Ready-to-Issue (RTI) development opportunity for a 49-unit, 100% affordable housing project in Hollywood. Situated on a 7,895 square foot lot, the five-story project is designed for maximum efficiency, featuring 48 one-bedroom units and 1 studio, totaling approximately 21,753 rentable square feet. The location is less than a mile from the Vermont/Santa Monica Metro Red Line Station and close to shopping, dining, and transit options, earning a Walk Score of 92, which is considered a "Walker's Paradise". The development includes 10 units reserved for moderate-income households (110% AMI or below), 38 units reserved for low-income households (80% AMI or below), and 1 market-rate manager's unit. Applicable rent schedules include HCD Schedule VI (for very low and moderate-income units) and TCAC Schedule IX (for low-income units). The site's affordability mix may also appeal to Section 8 voucher tenants. Designed with zero parking spaces, this project minimizes construction costs and streamlines development. The vacant lot offers a clear path to construction with no tenant relocation or demolition required, allowing for immediate building. Located within a Qualified Opportunity Zone, investors may benefit from additional tax incentives. The property is zoned LARD1.5.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.30211
- Latitude
- 34.092228
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Ready-to-Issue 49-unit affordable housing development opportunity in Hollywood.
Where is this apartment building located?
The property is located at 1156 N Kingsley Dr Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Ready‑to‑Issue (RTI) permits allow for immediate construction of a 49‑unit affordable housing development.; Priced under $34,000 per unit, representing exceptional value for a new development in Hollywood.; Located in a Walker's Paradise (Walk Score of 92) near the Vermont/Santa Monica Metro Red Line Station, premier shopping, and dining.
