Thank you
Neema Ahadian
Marcus & Millichap
310-909-5500
4303-4313 W Pico Blvd is a unique affordable housing development opportunity in Mid City. Plans call for 149 income restricted housing units and 1 manager unit, with an ideal unit mix of 48 singles and 102 one-bedrooms. Unlike other ED1 projects, the design includes one level of on-grade parking for 39 spaces and is centrally located to major employment hubs. The discount to surrounding market rents support both a voucher based and workforce housing lease-up strategy, allowing a developer multiple lease up options and flexibility at completion. The seven-story mid-rise project is designed with a stacked design, utilizing Type III over Type I construction for expedited construction and reduced costs. The project also includes 11,259 SF of open space, allowing a developer to provide additional amenities or supportive housing services for residents. The project is offered at a low $40,000 per buildable unit, offering a privately funded developer the opportunity to fund the entire project without tax credits or government subsidies. The existing two retail units will be delivered vacant at the close of escrow, allowing a developer to break ground and start on the project once permits have been pulled.
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Total Baths: 0
Full Baths: 0
Half Baths: 0
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.2499
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 10887
Original List Price: 6,000,000
Listing Contract Date: 2023-12-06
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5082022006
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C18 - Hancock Park-Wilshire
Postal Code Plus 4: 3134
Directions: This affordable housing development opportunity at 4303-4313 W Pico Blvd, located between Crenshaw Blvd and S La Brea Ave in Mid City.
Zoning: LAC4
Source Property Type: Land
Area: C18 - Hancock Park-Wilshire
Year Built Source: Vendor Enhanced
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
3617 W Venice Boulevard, Los Angeles, CA,90019 | $15,950,000 | 56 | -- | 27,448 | 15952 Sqft |
1714 S Marvin Avenue, Los Angeles, CA,90019 | $1,189,000 | 4 | 3 | 1,708 | 6662 Sqft |
4516 St Charles Place, Los Angeles, CA,90019 | $1,210,000 | 5 | -- | 3,097 | 7013 Sqft |
1269 S Citrus Avenue #8, Los Angeles, CA,90019 | $2,895 | 2 | 1 | -- | 6501 Sqft |
4620 Pickford Street, Los Angeles, CA,90019 | $950,000 | 3 | 1 | 1,632 | 5503 Sqft |
1612 S Sierra Bonita Av.., Los Angeles, CA,90019 | $1,650,000 | 3 | 3 | 2,506 | 5652 Sqft |
1385 1385-87 S Orange D.., Los Angeles, CA,90019 | $1,195,000 | 4 | -- | 2,285 | 6218 Sqft |
1415 S St Andrews Place, Los Angeles, CA,90019 | $2,799,000 | 12 | -- | 9,268 | 13166 Sqft |
1325 S Mansfield Avenue, Los Angeles, CA,90019 | $1,475,000 | 4 | -- | 3,087 | 6905 Sqft |
1089 S Orange Drive, Los Angeles, CA,90019 | $1,595,000 | 6 | -- | 3,696 | 9497 Sqft |
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ByOwner last updated this listing 05/17/2024 @ 23:04
MLS: 24350913
LISTED BY: Neema Ahadian, Marcus & Millichap
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.