38 unit, 100% Affordable Housing Development Opportunity, RTI at COE

$1,330,000

6801 South Figueroa Street, Los Angeles, CA 90003

For Sale

Land Commercial

Active

Last Updated: 03/27/2025

Details:

Lot Area: 7,202 sqft

Price Per Sqft: $184.67

Zoning: C2-1VL

Offered by

Jordan Petito

Senior Vice President

Partners CRE

#02023714

Request Info to Unlock

Highlights:

38-Unit 100% Affordable Housing Development, RTI at COE
Zoning: C2-1VL and Tier 1 Transit-Oriented Community
Mostly Stacked Design - Type V-A Construction
Rent Schedules: HCD Schedule VI and TCAC Schedule IX
Transit Access: Convenient access to the 81 Bus and J Line

Description:

PartnersCRE is proud to offer an outstanding, Ready-to-Issue 38-unit affordable housing development opportunity in the heart of South Los Angeles.

This prime project is located on a 7,202 SF lot and is designed with a 4-story Type V-A building under ED-1 incentives, maximizing both density and affordability. With a total floor area of 22,909 SF and 18,036 SF of rentable space, the development includes 32 one-bedroom units and 6 studio apartments, all of which will be affordable to low- and moderate-income residents. The design eliminates the need for parking, further reducing construction costs and ensuring long-term affordability.

6801 S Figueroa St is in the Los Angeles State Enterprise Zone, offering additional benefits and incentives for development.

The rent structure is highly attractive: 80% of the units are designated for TCAC Schedule IX low-income tenants, while 20% will be reserved for HCD Schedule VI moderate-income tenants. In addition, the property’s proximity to Section 8 voucher opportunities could boost rental income by up to 20% per unit.

Located in the rapidly transforming South Los Angeles area, this property is at the center of a vibrant community undergoing revitalization, with new developments and improvements enhancing the neighborhood. The site is ideally positioned near essential amenities such as schools, healthcare centers, and parks, making it a prime location for individuals and families in need of affordable housing. With a Walk Score of 76, it’s also within walking distance of local shops, dining, and services.

With all entitlements and approvals secured, the project is Ready-to-Issue and will be delivered vacant at the close of escrow, providing an immediate and seamless path to development.