4129 Avalon Blvd Los Angeles, CA 90011

This is a ready-to-issue (RTI) 48-unit, 100% affordable housing project situated on an 8,199 square foot lot. The four-story apartment development is designed with efficiency in mind. The total gross buildable space is approximately 23,323 square feet, with a total rentable space of approximately 17,126 square feet. The unit mix includes 14 studios, 33 one-bedroom units, and 1 studio manager's unit. The recreation room has the potential to convert into an ADU. The development features a stacked on-grade design and zero parking spaces. Housing affordability is a key focus, with 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. The rent amounts 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. The property is located in a primarily residential neighborhood near a hospital and park, offering ample access to street parking within a walkable radius. The neighborhood is very walkable with excellent transit, indicated by a Walk Score of 79. The property is currently used as car storage, rented month-to-month at $1,800. The location of this property may attract Section 8 voucher tenants, increasing the potential income by around 20% for each unit. The lot size is 0.1883 acres. Seller is willing to provide Seller Financing and be in a second position to a construction loan. The zoning is C2-IVL-CPIO.