Homes for sale - 3444 Hillcrest DR, Los Angeles, CA 90016

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Jessica Panzica

jessica@jessicapanzica.com +1(714) 313-8193

$2,695,000

Est. payment - /mo

9,861 Sqft Lot

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UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25538575

HOA Y/N No

Lot Size 9,861 Sqft

Property Description

We are proud to present for sale a ready-to-issue (RTI) 48-unit, 100% affordable housing development on a 9,863 SF lot in the gentrifying neighborhood of West Adams, with the potential to add 3+/- ADUs after completion. The proposed development features a 27,409 SF, 5-story, Type III-A Construction slab on grade with a primarily stacked design. All 48 units are 1 bedroom, 1 bath with an average unit size of approximately 475 SF, plus hallways, elevators, and stairs. The restricted rent levels for the project are: 2 very low-income units, 38 low-income units, 7 moderate-income units, and 1 manager's unit. The rent for the very low and moderate-income units can be found on HCD Schedule VI, while the rent for the low-income units can be found on TCAC Schedule IX. Additionally, the location of this property may attract Section 8 voucher tenants, increasing the potential income by around 20% for each unit. West Adams is known for its rich cultural history and vibrant community. Nearby parks include Vineyard Recreation Center, Jim Gilliam Recreation Center, and Baldwin Hills Recreation Center. Zero parking spaces will allow developers to avoid the high cost of on-grade parking. The property is conveniently located in a Metro hub off of Exposition Blvd, providing easy transportation with excellent east-west access from Downtown to Santa Monica. The Walk Score for this property is 79, indicating it is "Very Walkable" with "Excellent Transit." The subject property is located within the Qualified Opportunity Zone (QOZ).Property will be delivered vacant at COE.

Location

State CA

County Los Angeles

Area Phht - Park Hills Heights

Zoning RD1.5-1

Interior

Fireplace No

Exterior

View Y/N Yes

View City Lights

Building

New Construction No

Others

Senior Community No

Tax ID 5046007017

Special Listing Condition Standard

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Listed by Jordan Petito • Keller Williams Beverly Hills

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Jessica Panzica

+1(714) 313-8193

Agent | License ID: 01854556

Agent License ID: 01854556

3444 Hillcrest DR Los Angeles, CA 90016

Jessica Panzica

Key Details

Location

Interior

Exterior

Building

Others

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