Multifamily Development Site
820 S Lake St, Los Angeles, CA 90057
32-unit multifamily development site with permits ready to issue.
Type:Multifamily
Property size:
1,452 SFPrice / SF:
$1,031/SF- Added:
- Sep 10, 2025
- Days on Market:
- 252
- Last Refresh:
- Apr 5 at 9:23 pm
Property Features for 820 S Lake St
General Information
- Standard status
- Active
- Size
- 1,452 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2025
Listing agent Jesse Munoz License #01372980 (213) 623-0800
Listing office LEE & ASSOCIATES INVESTMENTS SERVICES GROUP INC (213) 623-0800
Listing date Sep 10, 2025
Source Lee-associates
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 LEE & ASSOCIATES INVESTMENTS SERVICES GROUP INC
HighLights
- Permits ready‑to‑issue at close, allowing construction mobilization and leasing to begin within 14‑18 months.
- 32‑unit, 100% affordable multifamily development site in a high‑demand area.
- Excellent location with a Walk Score of 94, close to Metro A‑E lines, MacArthur Park, and other amenities.
- Luxury features and amenities including dishwashers in each unit, 35 bike stalls, laundry room, and a 2,000 sq ft roof deck.
- Approved project utilizing AB2334 and ED1, with recorded covenant for Schedule 1 and Schedule 6 rents, ensuring broad tenant eligibility.
- Flexibility to accommodate tenants with Section 8 vouchers.
Overview
The property at 820-822 S. Lake Street presents an opportunity to acquire a 32-unit, 100% affordable multifamily development site. The planned development consists of a 6-story building, with a construction type of 5-story type IIIA over 1-story type 1A. The property is situated near the intersection of Lake and 8th Streets, southwest of MacArthur Park and within walking distance to Metro A-E lines. The location has a Walk Score of 94, with transit options, bikeability, and proximity to schools, employment centers, and transit facilities. Westlake bridges the gap between Downtown and Koreatown, with leisure and entertainment options, including MacArthur Park, Echo Park, Dodger Stadium, and the Broad Museum. The property offers the opportunity to purchase the site with permits ready-to-issue and the ability to mobilize construction, complete the apartment units, and begin leasing the property within an estimated 14 to 18 months. The development plans entail 32 affordable apartment units with features and amenities, including a dishwasher in each unit, 35 bike stalls, a laundry room area, and a roof deck with 2,000 square feet of seating area, tables, plants and greenery. A covenant for Schedule 1 and Schedule 6 rents has been recorded, utilizing 30% of 80% AMI and 30% of 110% net AMI, respectively. The property presents the flexibility to accommodate tenants with Section 8 vouchers. The property is positioned for full occupancy by the end of the 4th quarter in 2025.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.279
- Latitude
- 34.0547
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 32-unit multifamily development site with permits ready to issue.
Where is this apartment building located?
The property is located at 820 S Lake St Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: Permits ready‑to‑issue at close, allowing construction mobilization and leasing to begin within 14‑18 months.; 32‑unit, 100% affordable multifamily development site in a high‑demand area.; **Excellent location with a Walk Score of 94**, close to Metro A‑E lines, MacArthur Park, and other amenities.
