Description for
4303 W Pico BoulevardLos Angeles, CA 90019
4303-4313 W Pico Blvd is a unique affordable housing development opportunity in Mid City. Plans call for 149 income restricted housing units and 1 manager unit, with an ideal unit mix of 48 singles and 102 one-bedrooms. Unlike other ED1 projects, the design includes one level of on-grade parking for 39 spaces and is centrally located to major employment hubs. The discount to surrounding market rents support both a voucher based and workforce housing lease-up strategy, allowing a developer multiple lease up options and flexibility at completion. The seven-story mid-rise project is designed with a stacked design, utilizing Type III over Type I construction for expedited construction and reduced costs. The project also includes 11,259 SF of open space, allowing a developer to provide additional amenities or supportive housing services for residents. The project is offered at a low $40,000 per buildable unit, offering a privately funded developer the opportunity to fund the entire project without tax credits or government subsidies. The existing two retail units will be delivered vacant at the close of escrow, allowing a developer to break ground and start on the project once permits have been pulled.
Price
$6,000,000
Los Angeles
24350913
Active
Description
4303-4313 W Pico Blvd is a unique affordable housing development opportunity in Mid City. Plans call for 149 income restricted housing units and 1 manager unit, with an ideal unit mix of 48 singles and 102 one-bedrooms. Unlike other ED1 projects, the design includes one level of on-grade parking for 39 spaces and is centrally located to major employment hubs. The discount to surrounding market rents support both a voucher based and workforce housing lease-up strategy, allowing a developer multiple lease up options and flexibility at completion. The seven-story mid-rise project is designed with a stacked design, utilizing Type III over Type I construction for expedited construction and reduced costs. The project also includes 11,259 SF of open space, allowing a developer to provide additional amenities or supportive housing services for residents. The project is offered at a low $40,000 per buildable unit, offering a privately funded developer the opportunity to fund the entire project without tax credits or government subsidies. The existing two retail units will be delivered vacant at the close of escrow, allowing a developer to break ground and start on the project once permits have been pulled.
Listing Information
Property Type: Land, Other
0.25 Acres
Neighborhood
Room Information
Exterior / Lot Features
0 Covered Parking Spaces,
LAC4
Driving Directions
This affordable housing development opportunity at 4303-4313 W Pico Blvd, located between Crenshaw Blvd and S La Brea Ave in Mid City.
Financial Considerations
5082022006
Listing Price History
Los Angeles Real Estate
Los Angeles is located in California.
Los Angeles, California 90019 has a population of 3,956,168.
The median household income in Los Angeles, California 90019 is
$61,852.
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 90019 is 38 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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