701 Vernon Ave Los Angeles, CA 90037

This exceptional multifamily investment opportunity presents a 40-unit apartment building located at 701 & 649 W. Vernon Ave, Los Angeles, CA 90037. The property boasts a total of 22,794 square feet and sits on a 9,619 square foot lot. The building is a four-story structure, zoned C2-1VL-CPIO, and comprises 40 units. The unit breakdown includes 6 Type V-A units designated for low-income residents under Schedule VI, 33 units for low-income residents under Schedule I, and 1 manager's unit. This entirely privately funded project, without tax credits or public housing involvement, offers a unique investment prospect in a prime location approximately one mile from the University of Southern California (USC). The property's APN is 5019-009-030. This is a pre-RTI (Rent-to-Income) project, offering a strong potential for future appreciation. The asking price for this significant multifamily asset is $3,000,000. This represents a compelling opportunity to acquire a well-positioned, affordable housing complex in a thriving Los Angeles neighborhood. The property's location and the strong demand for affordable housing in the area make this a highly attractive investment.