Pending
3444 Hillcrest Dr
Los Angeles CA, 90016
$2,695,000
$273.16 per sqft
Pending
0.23 Acres
Land
We are proud to present for sale a ready-to-issue (RTI) 48-unit, 100% affordable housing development on a 9,863 SF lot in the gentrifying neighborhood of West Adams, with the potential to add 3+/- ADUs after completion. The proposed development features a 27,409 SF, 5-story, TypeIII-A Construction slab on grade with a primarily stacked design. All 48 units are 1 bedroom, 1 bath with an average unit size of approximately 475 SF, plus hallways, elevators, and stairs. The restricted rent levels for the project are 2 very low-income units, 38 low-income units, 7 moderate-income units, and 1 manager's unit. 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. Additionally, the location of this property may attract Section 8 voucher tenants, increasing the potential income by around 20% for each unit. West Adams is known for its rich cultural history and vibrant community. Nearby parks include Vineyard Recreation Center, Jim Gilliam Recreation Center, and Baldwin Hills Recreation Center. Zero parking spaces will allow developers to avoid the high cost of on-grade parking. The property is conveniently located in a Metrohub off of Exposition Blvd, providing easy transportation running east and west from Downtown to Santa Monica. The Walk Score for this property is 79, indicating it is "Very Walkable" with "ExcellentTransit." The subject property is located within the Qualified Opportunity Zone (QOZ).
24-427273
MLSⓇ ID
August 13, 2024
Listed
November 22, 2024
Updated
Map
3444 Hillcrest Dr
Los Angeles CA, 90016
Exterior/Building Features
Lot Size
0.23 Acres
Other Property Details
Area Name
Park Hills Heights
Days on Market
27
Garage
No
View
Yes
View Description
Other
County
Los Angeles
Pool
No
Zoning
LARD1.5-1
Listed by Jordan Petito with Keller Williams Beverly Hills
Listing Contact: 310-497-4362
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Nanci Isaacs | CA DRE# 01940161 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 11/22/2024