7
See all 7 photos
$2,150,000
Est. payment /mo
9,317 Sqft Lot
Active
6401 S Broadway Los Angeles, CA 90003
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26659161
HOA Y/N No
Lot Size 9,317 Sqft
Property Description
A rare shovel-ready development opportunity in South Los Angeles with permits ready to be issued for immediate construction of a value-engineered, affordable housing multi-unit project. This corner lot is fully entitled for a four-story, 50-unit residential building consisting of all large one-bedroom units (49 affordable + 1 manager unit) with alley access in the rear and no existing structures, eliminating relocation or demolition costs. The approved plan utilizes cost-efficient Type V wood-frame construction with elevator access, optimizing build costs and long-term returns for developers and investors. The site also includes future potential to add up to 3 accessory dwelling units (ADUs) for additional income. Positioned in a transit-oriented neighborhood with strong rental fundamentals, the property is minutes from the 110 Freeway, Downtown Los Angeles, and USC and surrounded by multiple new construction projects, reinforcing demand in this underserved market. Delivered vacant and permits approved, this project offers both immediate build capacity and enduring market appeal for affordable housing investment.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAC2
Interior
Fireplace No
Exterior
Community Features Gated
Building
Lot Description Corner Lot, Street Level
Others
Tax ID 6005001022
Security Features Gated Community
Special Listing Condition Standard
Listed by N. Melody Khoshnoud Mulholland Realty, Inc. #01898059
Nearby Locations
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