3444 Hillcrest Los Angeles, CA 90016

This is a ready-to-issue (RTI) 48-unit, 100% affordable housing development situated on a 9,863 square foot lot in the West Adams neighborhood. The proposed development consists of a 27,409 square foot, 5-story building of Type III-A construction. The design is primarily stacked. All 48 units are 1 bedroom, 1 bath apartments, with an average unit size of approximately 475 square feet, in addition to hallways, elevators, and stairs. The unit mix includes 2 very low-income units, 38 low-income units, 7 moderate-income units, and 1 manager's unit. Rent levels are restricted. The rent 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's location may attract Section 8 voucher tenants, potentially increasing income by around 20% for each unit. The property is located in a Metro hub off of Exposition Blvd, providing transportation with east-west access from Downtown to Santa Monica. The Walk Score for this property is 79, indicating it is "Very Walkable" with "Excellent Transit." The subject property is located within the Qualified Opportunity Zone (QOZ). The property will be delivered vacant at the close of escrow. West Adams is known for its cultural history and community. Nearby parks include Vineyard Recreation Center, Jim Gilliam Recreation Center, and Baldwin Hills Recreation Center. The development includes zero parking spaces.