10200 Main St Los Angeles, CA 90003-4622

Property Details for 10200 Main St

Year built

1925

Construction

WOOD

Lot size

0.12 lot acres

Property size

3,980 SF

Zone code

LAC2

Property type

Manufacturing properties

APN

6063-009-001

APU

6063009001

Description

This exceptional investment opportunity presents an entitled 18-unit affordable housing project situated on a 5,310 square foot lot in Los Angeles, California. The property, located at 10200 S Main St, Los Angeles, CA 90003 (APN 6063-009-001), is zoned C-2 and offers a straightforward development path within an existing structure. The project plans include 18 units, each approximately 200 square feet with a full bathroom, catering to the significant demand for low-income housing in the area. The asking price is $948,000, translating to a land value of $178.53 per square foot. The current tenant is on a month-to-month lease, generating a monthly income of $5,600, resulting in a pro-forma NOI of $44,990 and a pro-forma cap rate of 4.75%. This project offers a compelling opportunity to capitalize on the growing need for affordable housing while achieving a strong return on investment. The existing building provides a cost-effective foundation for the development, minimizing construction complexities and accelerating the project timeline. This is a rare chance to acquire an entitled project ready for immediate development in a high-demand market.