$2,350,000
$2,450,000
4.1%For more information regarding the value of a property, please contact us for a free consultation.
10,511 Sqft Lot
SOLD DATE : 03/15/2024
Key Details
Sold Price $2,350,000
Property Type Vacant Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 23312583
Sold Date 03/15/24
HOA Y/N No
Lot Size 10,511 Sqft
Property Description
An affordable housing development opportunity at 1432 E 25th St just south of Downtown Los Angeles. The 10,509 SF lot will be delivered RTI for 54 income-restricted units and 1 manager unit. The project is located between Hooper Ave and Compton Ave, just 3 miles east of USC. The project is offered at a low $44,545 per buildable unit, with no tenant relocation required. There is currently an existing 4,196 SF structure that will be delivered vacant at the close of escrow.Plans call for 6 singles (320 SF) and 49 one-bedroom units (388 SF) with no parking required. The four-story building totals 26,048 SF and includes amenities such as a 4,400 SF communal roof deck, allowing residents unobstructed views of Downtown Los Angeles to the north. Located in a dense, infill location of South Los Angeles with an easy commute to Downtown and Vernon; walk score of 77 and close to multiple Metro local lines and the Metro A rail line. The cost-efficient design calls for four stories of Type V construction, with no parking requirements. Design features of the project include stucco-clad, vertically undulating balconies sweeping across the main elevation seamlessly integrating modern design elements with functionality. Potential design finishes for the balconies include a wood trim on all inside-facing planes, and a design element that is continued through the building's exterior-facing corridors, creating outstanding visual appeal, and elevating the project above other new developments
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LARD1.5
Interior
Fireplace No
Exterior
View Y/N Yes
View City Lights
Building
New Construction No
Others
Senior Community No
Tax ID 5118009030
Special Listing Condition Standard
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Bought with Neema Ahadian • Marcus & Millichap