11151 Broadway Los Angeles, CA 90061

Property Details for 11151 Broadway

Property type

Commercial real estate

APN

6074019008

Description

This exceptional investment opportunity presents a fully permitted, ready-to-issue (RTI) 40-unit affordable housing development in Los Angeles, CA. Located at 11151 S Broadway, this 7,286 square foot lot is zoned C2-2D-CPIO and boasts approximately 48 feet of frontage and 150 feet of depth. The project features a four-story, 16,479 square foot Type V-A building with a compact, stacked design maximizing space and eliminating parking. The unit mix includes nine studios, thirty one-bedroom, and one two-bedroom apartment. The affordable housing designation includes two very low-income units, thirty-one low-income units, six moderate-income units, and one market-rate manager's unit. Rent levels for very low and moderate-income units adhere to HCD Schedule VI, while low-income units follow HUD Schedule I. The property's location offers potential for increased income through Section 8 voucher tenants. Delivered vacant at the Certificate of Occupancy (COE), this project represents a significant value proposition for developers seeking a cost-effective entry into the Los Angeles affordable housing market. The APN is 6074019008. The asking price is $1,590,000. This is a turnkey opportunity to capitalize on the high demand for affordable housing in a prime Los Angeles location.