Description for
12016 S Figueroa StreetLos Angeles, CA 90061
We are pleased to present for sale an (ED 1) Executive Directive 1 affordable development opportunity located in the Metropolitan Southwest neighborhood of Los Angeles, within close proximity to LAX, Sofi Stadium, Gardena, Downtown LA and much more! Current improvements include 4 residential units situated on two separate APN's: APN 6117004005 (City of LA) & APN 6117004027 (Unincorporated LA County), with the addresses 12016-12108 S Figueroa. The combined lot size of 11,362 sqft makes this a prime candidate for a 100% fully affordable apartment project (seller has had conversations with architect for a 70 unit fully affordable project). Take advantage of the ED 1 fully affordable program, which provides for expedited processing, higher density, and reduced setbacks through the ED1 Ministerial Approval Process. Property also comes with an alley which allows for maximized design and parking. All 4 units are currently tenant occupied and the property will be sold with tenants in place. Currently monthly income from the units is $3,200/month, collect income while going through entitlements! Buyer to verify all zoning & density regulations with LADBS, LA County, and all relevant departments. Close proximity to major transportation (105 & 110 Freeways). Do not miss this opportunity to build in a centrally located part of LA with tons of upside at an affordable price point. Contact listing agent for more details!
Price
$1,060,000
Los Angeles
24374701
Active
Description
We are pleased to present for sale an (ED 1) Executive Directive 1 affordable development opportunity located in the Metropolitan Southwest neighborhood of Los Angeles, within close proximity to LAX, Sofi Stadium, Gardena, Downtown LA and much more! Current improvements include 4 residential units situated on two separate APN's: APN 6117004005 (City of LA) & APN 6117004027 (Unincorporated LA County), with the addresses 12016-12108 S Figueroa. The combined lot size of 11,362 sqft makes this a prime candidate for a 100% fully affordable apartment project (seller has had conversations with architect for a 70 unit fully affordable project). Take advantage of the ED 1 fully affordable program, which provides for expedited processing, higher density, and reduced setbacks through the ED1 Ministerial Approval Process. Property also comes with an alley which allows for maximized design and parking. All 4 units are currently tenant occupied and the property will be sold with tenants in place. Currently monthly income from the units is $3,200/month, collect income while going through entitlements! Buyer to verify all zoning & density regulations with LADBS, LA County, and all relevant departments. Close proximity to major transportation (105 & 110 Freeways). Do not miss this opportunity to build in a centrally located part of LA with tons of upside at an affordable price point. Contact listing agent for more details!
Listing Information
Property Type: Land, Other
0.26 Acres
Estimated
Neighborhood
Room Information
Exterior / Lot Features
0 Covered Parking Spaces,
LAR3
Driving Directions
South of the 105 Freeway, North of El Segundo Blvd, East of Vermont Ave, West of the 110 Freeway
Financial Considerations
6117004005
Listing Price History
Los Angeles Real Estate
Los Angeles is located in California.
Los Angeles, California 90061 has a population of 3,956,168.
The median household income in Los Angeles, California 90061 is
$47,267.
The median household income for the surrounding county is $73,262
compared to the national median of $66,222.
The median age of people living in Los Angeles 90061 is 38 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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City
Beds
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Sold Price
Sold Date
No information is available for recently sold properties within this search.