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This is an affordable housing development opportunity at 843 W82nd St, located between S Vermont Ave and S Hoover St in South Los Angeles. The 9,301 SF lot will be delivered fully entitled for 87 income-restricted housing units and 1 manager unit with no parking required. The project's central infill location and proximity to major employment hubs such as Downtown LA, Vernon, Commerce, and Huntington Park support multiple lease-up strategies including filling units through PATH, LAHSA or Section 8. Plans call for an efficient five story project, utilizing Type III construction for a fully stacked design reducing construction costs for the developer. The existing duplex will be delivered vacant at the close of escrow, allowing a developer to break ground immediately, without navigating the planning process or taking on additional risk through pending ordinances that are limiting the development of similar high density affordable projects. The finished project totals 48,123 SF and has a desirable unit mix of 4 x singles, 79 x one-bedrooms, and 5 x two-bedrooms. The project is offered at a low price per buildable unit, allowing a privately funded developer the opportunity to develop a high yielding project and capture a strong return on cost with zero tax credits or government subsidies. In addition, the affordability of the projects opens avenues of mission driven financing through CDFIs or mission driven lenders (contact agent for details). Located in a dense location of South Los Angeles with an easy commute throughout the city with access to the 110 Freeway from Manchester Ave; walking distance to multiple Metro local lines on S Vermont Ave. The subject property is walking distance to retail amenities along S Vermont Ave; nearby to Loren Miller Elementary School, Frederick K.C. Price III Christian Schools, and the Algin Sutton Recreation Center.
Property Type(s):
Lot/Land/Acreage
| Last Updated | 3/4/2025 | Community | Metropolitan Southwest |
|---|---|---|---|
| County | Los Angeles |
Price History
| Prior to Feb 10, '25 | $2,995,000 |
|---|---|
| Feb 10, '25 - Mar 4, '25 | $2,400,000 |
| Mar 4, '25 - Today | $2,000,000 |
Additional Details
| AREA | Metropolitan Southwest |
|---|---|
| LOT | 9301 sq ft |
| VIEW DESCRIPTION | None |
| ZONING | LAR3 |
Location
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Listed with Marcus & Millichap
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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