Active

142 E 84th Street

Los Angeles, CA 90003
Mark as Favorite
Bed 12

Bed

Bath 0

Bath

SqFt5,890

Sqft

SqFt5,199

Sqft(Lot)

We are pleased to present 142 East 84th Street, a brandnew,12-unit 100% affordable multifamily asset located in South Los Angeles, offered at $2,800,000 ($233,333/unit | $475/SF). Being brought out to market vacant, the property consists entirely of one-bedroom/one-bath units across three stories on a 5,199 SF lot and requires no deferred maintenance or capital investment. The asset is subject to a recorded Rental Covenant Agreement Running with the Land administered by the Los Angeles Housing Department under the City's TOC Tier 2 Affordable Housing Incentive Program, restricting all 12 units as deed-restricted affordable for a 55-yearterm from Certificate of Occupancy. The covenant structure functions a s along-term, government-supported income guarantee, delivering a current caprate of 7.69% and NOI of $215,402, with a pro forma cap rate of 8.45% and NOI of $236,651 as rents adjust to prevailing AMI levels. The covenant is fully assumable and transferable, with a straightforward LAHD assignment process required at close of escrow. The property is ideally situated within the 90003 zip code of South Los Angeles, a densely populated and fundamentally supply-constrained submarket. With over64,000 residents within one mile, an average household size of 3.6 persons, and a renter-occupied housing rate exceeding 74% within a three-mile radius, the submarket presents persistent and deep demand for quality affordable housing. The surrounding area benefits from proximity to major employment centers including SpaceX, Nike, LADWP, Charles R. Drew University of Medicine, and the broader LA Metro network, driving a stable and consistent renter base across economic cycles. Median household income within one mile is approximately$51,000; well within the qualifying thresholds for Low Income restricted tenancy and further supporting strong occupancy fundamentals. For impact investors, CDFIs, affordable housing operators, and mission-aligned capital seeking predictable, low-volatility income with 55-year hold certainty, 142 East 84th Street represents a rare, turnkey opportunity into Los Angeles's regulated affordable housing market at a competitive basis relative to comparable new-construction product trading in the immediate submarket.

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Detail Ic Property Details

Property Type : Residential Income

Price : $2,800,000

AD Id : 80040799

MLS Id : 26843201

Beds : 12

Lot Size : 5,199 Sqft

Living Area Size : 5,890

Year Built : 2026

County : Los Angeles

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Feature Features

  • Bedroom Information

    Total Bedrooms: 12

    Bathroom Information

    Total Baths: 12 Full Baths: 0 Half Baths: 0
  • Cooling Features

    None Air Conditioning

    Heating Source

    None Has Heating

  • Building Information

    Year Built: 2026 Building Area Total: 5,890

  • Lot Details

    Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1194 Lot Size Dimensions: 40x130
  • Lot Size Source: Vendor Enhanced Lot Size Square Feet: 5199

  • Listing Price Information

    Original List Price: 2,800,000 Listing Contract Date: 2026-06-04
  • Lease Information

    Listing Agreement: Exclusive Right To Sell

  • Tax Information

    Parcel Number: 6030013011

  • Garage and Parking

    Garage Description: Uncovered

    Homeowners Association

  • Other Property Info

    Source Listing Status: Active Source Neighborhood: C37 - Metropolitan South Postal Code Plus 4: 2912 Directions: Located on 84th Street E, between Main Street and Wall Street, North of Manchester Avenue Zoning: LAR3 Source Property Type: Residential Income Area: C37 - Metropolitan South
  • Building and Construction

    Property Age: 0 Common Walls: 1 Common Wall Year Built Source: Estimated Total Square Feet Living: 5890 Entry Level: 1 Property Attached: Yes Levels or Stories: Three Or More
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
337 E 60th Street, Los Angeles, CA, 90003 $659,000 2 1 1,020 1,020 SqFt
7500 Avalon, Los Angeles, CA, 90003 $1,075,000 -- -- 4,560 4,560 SqFt
308 E 65th, Los Angeles, CA, 90003 $596,000 2 1 918 918 SqFt
341 E 71st Street, Los Angeles, CA, 90003 $799,000 6 -- 1,970 1,970 SqFt
358 E 73rd Street, Los Angeles, CA, 90003 $724,995 4 -- 1,846 1,846 SqFt
8100 Avalon Boulevard, Los Angeles, CA, 90003 $1,300,000 12 -- 3,680 3,680 SqFt
135 E 60th Street, Los Angeles, CA, 90003 $525,000 3 2 1,288 1,288 SqFt
7104 San Pedro, Los Angeles, CA, 90003 $2,050,000 -- -- 6,383 6,383 SqFt
8311 Avalon, Los Angeles, CA, 90003 $899,997 -- -- 2,088 2,088 SqFt
8325 Avalon Boulevard, Los Angeles, CA, 90003 $1,025,000 4 -- 3,600 3,600 SqFt

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ByOwner last updated this listing 06/13/2026 @ 09:24

MLS: 26843201 LISTED BY: Neema Ahadian, Marcus & Millichap 310-909-5500 SOURCE: CRMLS

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