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$ 1,390,000
Est. payment | /mo
6,930 Sqft Lot
$ 1,390,000
Est. payment | /mo
6,930 Sqft Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26670455
HOA Y/N No
Lot Size 6,930 Sqft
Property Description
Keller Williams Commercial is pleased to present for sale a rare ED1 100% affordable housing RTI development opportunity in the heart of Pico Union, just minutes from Downtown Los Angeles. At just $35,000/unit, the project is fully entitled for 39 units and is located within a Section 8 Tier 4 submarket (the highest Section 8 payment tier!), offering enhanced revenue potential and a streamlined path to construction. Approved plans include 30 one-bedroom units, 5 studios, and 4 ADUs, totaling approximately 23,771 square feet of building area. The unit mix consists of 27 units reserved for low-income households, 7 units reserved for moderate-income households, and 5 market-rate units. The subject property is vacant land, eliminating any tenant relocation requirements and further reducing development risk. With RTI permits secured and ED1 advantages in place, the project is truly shovel-ready, allowing a developer to break ground immediately without the time and uncertainty of the entitlement process. Ideally located just minutes from LA Live, Convention Center, and a wide range of shopping and dining amenities, the property sits in one of LA's most active and supply-constrained rental corridors. With strong demand for affordable housing, premium voucher levels, and favorable ED1 incentives, this offering presents a compelling opportunity to deliver a high-density project in a prime infill location. Contact listing agent for more details or set of approved plans!
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR3
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
New Construction No
Others
Senior Community No
Tax ID 5135028007
Special Listing Condition Standard
Listed by Daniel Shamooelian Keller Williams Beverly Hills #01984269
Joshua Tolar
Homeowner Advisor | Realtor | License ID: 02000924
+1(909) 525-2770 | josh@pivothomes.com