6719 S Figueroa St Los Angeles, CA 90003

Located in the heart of Los Angeles at 6719 S Figueroa St, this ready-to-issue development opportunity features a 58-unit affordable housing project. Situated on a 9,805 square foot lot, the property is within the Los Angeles State Enterprise Zone. The planned 4-story Type V-A building, designed under AB 1763 and AB 2345 incentives, maximizes density and affordability. The development includes a total floor area of 24,774 square feet, with 20,049 square feet of rentable space. It comprises 33 studio units, 25 one-bedroom units, and 1 market-rate manager's unit. Of these, 45 units are designated for low-income tenants (80% AMI or lower), and 12 units are reserved for moderate-income residents (120% AMI or lower). This 100% affordable housing project eliminates the need for parking. The rent structure aligns with HCD Schedule VI and TCAC Schedule IX. The property is located 410 feet from public transit and close to amenities such as schools, parks, and healthcare centers. The site offers access to local shops, dining, and services, and benefits from being in the Los Angeles State Enterprise Zone, potentially offering business and tax incentives. All entitlements and waivers, including density bonuses, FAR increases, and open space reductions, have been secured. The project will be delivered vacant at closing.