8426 S Broadway - Commercial LAND FOR SALE


Los Angeles, CA 90003- Canndu/Avalon Gardens7,266 SF
$875,000 USD
818-212-2748
8426 S Broadway, Los Angeles, CA for Sale
$875,000 USD
Commercial LAND - FOR SALE
1/6
7,266 SF

8426 S Broadway
Los Angeles, CA 90003
Canndu/Avalon Gardens


HIGHLIGHTS

  • RTI 22-Unit Affordable Housing Project
  • No Parking Required – AB 2097
  • Diverse & Efficient Unit Mix
  • HUD Rent Schedule & Section 8 Compatible
  • Long-Term Investment Potential
  • Strong South LA Location

OVERVIEW

The proposed 3-story apartment building will feature Type V-A construction and does not require parking, as per AB 2097. This provides substantial design flexibility and the potential for a strong return on investment. The approved plans outline the development of 22 apartment units, totaling 10,803 square feet. The proposed design includes 2 studio units, 19 one-bedroom units, and 1 two-bedroom unit, with three apartments designated for Extremely Low Income tenants and nineteen for Low Income tenants. The rents for these affordable units will adhere to the most recent Schedule I and Schedule 6 rent limits set by HUD. Additionally, the project allows for participation in the Section 8 voucher program, which enhances leasing flexibility and income stability. Located on Broadway, the property is within walking distance of several public transportation stops along Main Street. It is also less than half a mile from South Park Recreational Center, Dr. Maya Angelou Community High School, and South Los Angeles Wetlands Park, and within a mile of LA Academy Middle School. For commuters, the 10 and 110 Freeways are just minutes away, providing convenient access to Greater Los Angeles.

FOR SALE DETAILS

PRICE

$875,000 USD

PRICE/ACRE

$5,247,109/AC

PRICE/SF

$120 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

100% Affordable 22 Units Ready to Build

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

Multi-Family, Apartment Units

LAND ACRES

0.17 AC

LAND SF

7,264 SF

OFFSITE IMPROVEMENTS

-

ZONING

C2-1VL-CPIO

APN/PARCEL ID

6040-002-003

ASK ABOUT THIS PROPERTY

Filip NiculeteMarcus & MillichapMore Info
818-212-2748

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Filip NiculeteMarcus & MillichapMore Info
818-212-2748

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.