12-Unit Affordable Multifamily
142 E 84th St Los Angeles, CA 90003
142 E 84th St, Los Angeles, CA, 90003
$2,800,000
For Sale
$2,800,000
Newly built 12-unit, 100% affordable multifamily property with deed-restricted units for a 55-year term.
Lot Size0.12 Acres
Days on Market48
Property Features for 142 E 84th St
General Information
- Standard status
- Active
- Lot size
- 0.12 Acres
- Property subtype
- MULTI_FAMILY
Building Details
- Year Built
- 2026
Listing agency
Marcus & Millichap
(310) 909-5444
Listed by
Neema Ahadian · License #CA:01346750
Source
Milsteinestates
Added: Jun 4 Updated: Jul 20 at 5:26PM Checked: Jul 21 at 6:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap
Investment Insights
Based on property information with market context.
142 E 84th St is a newly built 12-unit, 100% affordable multifamily property presented for sale with the units brought to market vacant. The building consists entirely of one-bedroom, one-bath residences spread across three stories. The asset is described as requiring no deferred maintenance or capital investment.
The property is located in South Los Angeles within the 90003 ZIP code and is subject to a recorded Rental Covenant Agreement Running with the Land administered by the Los Angeles Housing Department under the City’s TOC Tier 2 Affordable Housing Incentive Program. This covenant restricts all 12 units as deed-restricted affordable for a 55-year term from the Certificate of Occupancy.
The covenant structure is noted as fully assumable and transferable, with an LAHD assignment process required at close of escrow. The offering materials report a current cap rate of 7.69% and NOI of $215,402, with a pro forma cap rate of 8.45% and NOI of $236,651 as rents adjust to prevailing AMI levels.
The property is located in South Los Angeles within the 90003 ZIP code and is subject to a recorded Rental Covenant Agreement Running with the Land administered by the Los Angeles Housing Department under the City’s TOC Tier 2 Affordable Housing Incentive Program. This covenant restricts all 12 units as deed-restricted affordable for a 55-year term from the Certificate of Occupancy.
The covenant structure is noted as fully assumable and transferable, with an LAHD assignment process required at close of escrow. The offering materials report a current cap rate of 7.69% and NOI of $215,402, with a pro forma cap rate of 8.45% and NOI of $236,651 as rents adjust to prevailing AMI levels.
Key Highlights
- New 12‑unit multifamily property built in 2026, offered with all 12 units as 1BD/1BA apartments
- 100% affordable units deed‑restricted for a 55‑year term from Certificate of Occupancy under a recorded Rental Covenant with LAHD (TOC Tier 2)
- Vacant upon listing and being brought to market vacant; property requires no deferred maintenance or capital investment per remarks
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Newly built 12-unit, 100% affordable multifamily property with deed-restricted units for a 55-year term.
Where is this apartment building located?
The property is located at 142 E 84th St Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: New 12‑unit multifamily property built in 2026, offered with all 12 units as 1BD/1BA apartments; 100% affordable units deed‑restricted for a 55‑year term from Certificate of Occupancy under a recorded Rental Covenant with LAHD (TOC Tier 2); Vacant upon listing and being brought to market vacant; property requires no deferred maintenance or capital investment per remarks
