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    2424 Michigan Avenue

    Los Angeles (City), CA 90033
    • $1,795,000
    • STATUS: Active
    • ON SITE: 69 days
    • ID#: 20607302
    UPDATED: 200 min ago
    $1,795,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    County:

    School Ratings & Info

    Description

    Amazing opportunity to acquire this affordable housing, development-ready site in East Los Angeles. The site is RTI to build 17 units designed as a 100% affordable housing project, and as such, takes advantage of density bonus incentives offered through the Transit Oriented Communities program in The City of Los Angeles. The building is designed to be economically and readily built, engineered for efficiency. In addition, ZERO parking is required, thereby providing tremendous savings on the cost of construction. This 100% affordable, 3-story multifamily development project proposes to provide 17 units with a unit mix of all one-bedroom, one-bathrooms - each with it's own private balcony or patio. The project also includes a bicycle room and on-site laundry. Currently, the property is a vacant lot so there are no relocation or demolition costs for the Buyer. Projected Developer Profit: ~$2,500,000!!!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-29T00:27:49.22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mark Nazzal Real Estate Group | Keller Williams Realty - Redlands Market Center. Licensed in the State of California, USA.

    www.marknazzalrealty.com/homes/108085829
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    2424 Michigan Avenue Los Angeles (City), CA 90033

    • Price: $1,795,000
    • Status: Active
    • Updated: 200 min ago
    • ID#: 20607302
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    Neighborhood:
    BOYH - Boyle Heights
    County:
    Los Angeles
    Area:
    BOYH - Boyle Heights
    Property Description
    Amazing opportunity to acquire this affordable housing, development-ready site in East Los Angeles. The site is RTI to build 17 units designed as a 100% affordable housing project, and as such, takes advantage of density bonus incentives offered through the Transit Oriented Communities program in The City of Los Angeles. The building is designed to be economically and readily built, engineered for efficiency. In addition, ZERO parking is required, thereby providing tremendous savings on the cost of construction. This 100% affordable, 3-story multifamily development project proposes to provide 17 units with a unit mix of all one-bedroom, one-bathrooms - each with it's own private balcony or patio. The project also includes a bicycle room and on-site laundry. Currently, the property is a vacant lot so there are no relocation or demolition costs for the Buyer. Projected Developer Profit: ~$2,500,000!!!
    Exterior Features

    Lot Size Units Square Feet

    Property Features

    Country Us Special Listing Conditions Standard Zoning Lar3

    Listing provided courtesy of Ardy Ishal of Brc Advisors- Bh


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-29T00:27:49.22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mark Nazzal Real Estate Group | Keller Williams Realty - Redlands Market Center. Licensed in the State of California, USA.

     
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    Mark Nazzal Real Estate Group | Keller Williams Realty - Redlands Market Center
    1473 Ford St., Suite 200
    Redlands CA, 92373