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Listed by Rana Khanjani • Sync Brokerage
$2,340,000
Est. payment /mo
6,258 SqFt
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Square Footage 6,258 sqft
Price per Sqft $373
MLS Listing ID CRSR25094654
HOA Y/N No
Lot Size 6,258 Sqft
Property Sub-Type Unimproved Land
Source Datashare California Regional
Property Description
Incredible opportunity to build a fully RTI-approved 39-unit affordable housing project in the heart of Pico-Union. Located on a 7,406 SF R3-zoned lot with Tier 8 TOC designation—offering the HIGHEST LEVEL of CITY INCENTIVES. Approved plans include 30 one-bedroom units and 9 studios, totaling approx. 16,157 SF of rentable space and 19,008 SF total building area. Projected monthly income is approx. $104,832 based on updated HACLA payment standards: $3,108 for studios and $3,480 for 1-bedrooms (ZIP code-specific Section 8). This is a rare, shovel-ready opportunity for investors seeking strong returns, premium incentives, and long-term stability in one of LA’s most transit-connected and high-demand rental submarkets. Close to DTLA, USC, Koreatown, public transportation, and major freeway
Location
State CA
County Los Angeles
Interior
Fireplace No
Exterior
View None
Building
Lot Description Corner Lot
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