6801 S Figueroa St Los Angeles, CA 90003

This is a ready-to-issue 38-unit affordable housing development opportunity in the heart of South Los Angeles. The project is located on a 7,202 square foot lot and is designed with a 4-story Type V-A building under ED-1 incentives. The design maximizes both density and affordability. The building has a total floor area of 22,909 square feet with 18,036 square feet of rentable space. It includes 32 one-bedroom units and 6 studio apartments, all of which will be affordable to low- and moderate-income residents. The design eliminates the need for parking, further reducing construction costs and ensuring long-term affordability. The property is located in the Los Angeles State Enterprise Zone, offering additional benefits and incentives for development. Eighty percent of the units are designated for TCAC Schedule IX low-income tenants, while 20% will be reserved for HCD Schedule VI moderate-income tenants. The property's proximity to Section 8 voucher opportunities could boost rental income by up to 20% per unit. The property is in the rapidly transforming South Los Angeles area, at the center of a vibrant community undergoing revitalization. The site is ideally positioned near essential amenities such as schools, healthcare centers, and parks. With a Walk Score of 76, it's also within walking distance of local shops, dining, and services. With all entitlements and approvals secured, the project is ready-to-issue and will be delivered vacant at the close of escrow.