58 Unit, 100% Affordable Housing Development Opportunity, RTI at COE

$1,885,000

6719 South Figueroa Street, Los Angeles, CA 90003

For Sale

Land Commercial

Active

Last Updated: 03/26/2025

Details:

Lot Area: 9,805 sqft

Price Per Sqft: $221.82

Zoning: C2-1VL and Tier 1 Transit-Oriented Community with AB 1763 and AB 2345 incentives

Offered by

Jordan Petito

Senior Vice President

Partners CRE

#02023714

Request Info to Unlock

Highlights:

58-Unit 100% Affordable Housing Development, RTI at COE
Zoning: C2-1VL and Tier 1 Transit-Oriented Community with AB 1763 and AB 2345 incentives
Rent Schedules: HCD Schedule VI and TCAC Schedule IX; 45 low-income (80% AMI) and 12 moderate-income (120% AMI) units
Transit Access: Located 410 ft from public transit, including the 81 Bus and J Line
Turnkey Opportunity: Delivered vacant with Ready-to-Issue permits for immediate development

Description:

PartnersCRE is proud to offer an outstanding, Ready-to-Issue 58-unit affordable housing development opportunity in the heart of Los Angeles at 6719 S Figueroa St., Los Angeles, CA 90003, located within the Los Angeles State Enterprise Zone.

This prime project sits on a 9,805 SF lot and features a 4-story Type V-A building designed under AB 1763 and AB 2345 incentives, maximizing both density and affordability. With a total floor area of 24,774 SF and 20,049 SF of rentable space, the development includes 33 studio units, 25 one-bedroom units, and 1 market-rate manager’s unit. Of these, 45 units are affordable to low-income tenants (80% AMI or lower), while 12 units are reserved for moderate-income residents (120% AMI or lower).

Notably, this 100% affordable housing project eliminates the need for parking, significantly reducing construction costs and enhancing long-term affordability. The rent structure aligns with HCD Schedule VI and TCAC Schedule IX, ensuring a sustainable income model for developers.

The property is located just 410 ft from public transit and close to essential amenities, including schools, parks, and healthcare centers, making it an ideal home for individuals and families. Positioned in a vibrant and transforming Los Angeles community, this site offers convenient access to local shops, dining, and services, with the added advantage of being in the Los Angeles State Enterprise Zone, offering potential business and tax incentives.

With all entitlements and waivers secured—including density bonuses, FAR increases, and open space reductions—this project is Ready-to-Issue and will be delivered vacant at closing, offering developers an immediate and seamless path to construction.