3444 Hillcrest Drive, Los Angeles, CA 90016

  • $2,695,000
  • $273
3444 Hillcrest Drive, Los Angeles, CA 90016
  • Land
  • Property Type
For Sale
3444 Hillcrest Drive, Los Angeles, CA 90016
  • $2,695,000
  • $273

Overview

Property ID: SGR-33756089
  • Land
  • Property Type

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, TypeIII-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 Metrohub off of Exposition Blvd, providing easy transportation running east and west from Downtown to Santa Monica. The Walk Score for this property is 79, indicating it is “Very Walkable” with “ExcellentTransit.” The subject property is located within the Qualified Opportunity Zone (QOZ).

  • Address 3444 Hillcrest Drive
  • City Los Angeles
  • State/county CA
  • Zip/Postal Code 90016
  • Area PHHT - Park Hills Heights
  • Country United States

Details

Updated on September 9, 2024 at 10:48 pm
  • Property ID: SGR-33756089
  • Price: $2,695,000
  • Land Area: 9866.00 m²
  • Property Type: Land
  • Property Status: For Sale
  • MLS#: 24427273
  • Office Name: KELLER WILLIAMS BEVERLY HILLS
  • Agent Name: Jordan Petito
  • MLS Status: Active
  • Co-Office Name: Keller Williams Beverly Hills
  • Co-Agent Name: Dario Svidler
  • Agent State License: 02023714
  • Co-Agent State License: 01884474

Additional details

  • County: Los Angeles
  • Parking: 0.00

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