12-Unit Affordable Multifamily
For Sale
$2,800,000
142 W 84th St, Los Angeles, CA 90003
Newly built 12-unit, 100% affordable multifamily property with deed-restricted units for a 55-year term.
Property Size5,890 SF
Lot Size0.12 Acres
Days on Market64
Property Features for 142 W 84th St
General Information
Standard status
Active
Size
5,890 SF
Lot size
0.12 Acres
Property subtype
Multifamily
Additional Details
Cap Rate
7.69%
Multifamily Units
12
Amenities
Marcus & Millichap is pleased to present 142 East 84th Street, a 12-unit, 100% affordable multifamily asset in Los Angeles, delivered brand-new and marketed prior to lease up.
2026 construction with all 12 units being modern one-bedroom/one-bath, spanning three stories on a 5,199 SF lot with approximately 5,890 gross SF.
Property features new stainless-steel appliances, all electric stoves, a dedicated bike room, and five on-site parking spaces in the rear.
Building Details
Building Size
5,890 SF
Stories
3
Units
12
Tenancy
Multi
Listing Agency:
Marcus & Millichap
(310) 909-5444
Listed By:
Neema Ahadian · License #License(s): CA: 01346750
(310) 909-5444
Source:
Marcusmillichap
Added: Jun 23
Changed: Aug 24
Last Checked: Aug 25 at 5:04AM
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
Property Profile
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,481
Businesses Nearby
Explore this area
Business Placement
Demographics for 90003, CA
72,764
Population
18,349
Households
4
Avg Household Size
30
Median Age
7%
College-Educated
53%
High-School Grad
3.6 sq mi
ZIP Area
20,212
Density / Sq Mi
$54,781
Median Household Income
$30,132
Median Earnings
$1,515
Median Rent
$547,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
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 W 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
