48 Unit 100% Affordable Housing Project, RTI

Highlights:

• Type VA Construction - Cost Effective Stacked Design to maximize efficiency
• 59± FT of frontage on Avalon and 140± FT depth.
• Zoning is C2-IVL-CPIO located in Tier 2 Transit Oriented Communities
• Rent Schedules: Schedule VI and Schedule IX
• Walk Score of 79 'Very Walkable" - Around 2 Miles to USC
• Around 1.5 Miles to Exposition Park and Museums

Description:

PartnersCRE is proud to present for sale a ready-to-issue (RTI) 48-unit, 100% affordable housing project on an 8,199 SF lot. This 4-story apartment development is designed with efficiency in mind.

The recreation room has the potential to convert into ADU. It features a stacked on-grade design and includes:

• 14 Studios
• 33 One-Bedroom Units
• 1 Studio Manager’s Unit

The total gross buildable space is approximately 23,323 SF and the total rentable space is approximately 17,126 SF.

Housing affordability is a key focus, with:

• 10 units for moderate-income households (110% AMI or below)
• 37 units for low-income households (80% AMI or below)
• 1 market-rate manager’s unit

The rent amounts 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.

The property is situated in a primarily residential neighborhood near Hospital and Park, offering ample access to street parking within a walkable radius. The proposed development features zero parking spaces, which reduces construction costs for the developer. The neighborhood is very walkable with excellent transit, as indicated by a Walk Score of 79.

The property is currently used as Car Storage, rented month-to-month at $1,800.

Seller is willing to provide Seller Financing and be in a second position to a construction loan.

Documents: