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We are proud to offer an outstanding, Ready-to-Issue 58-unit affordable housing development opportunity in the heart of Los Angeles at 6719 S Figueroa St., Los Angeles, CA 90003, located within the Los Angeles State Enterprise Zone. This prime project sits on a 9,805 SF lot and features a 4-story Type V-A building designed under AB 1763 and AB 2345 incentives, maximizing both density and affordability. With a total floor area of 24,774 SF and 20,049 SF of rentable space, the development includes 33 studio units, 25 one-bedroom units, and 1 market-rate manager's unit. Of these, 45 units are affordable to low-income tenants (80% AMI or lower), while 12 units are reserved for moderate-income residents (120% AMI or lower).Notably, this 100% affordable housing project eliminates the need for parking, significantly reducing construction costs and enhancing long-term affordability. The rent structure aligns with HCD Schedule VI and TCAC Schedule IX, ensuring a sustainable income model for developers. The property is located just 410 ft from public transit and close to essential amenities, including schools, parks, and healthcare centers, making it an ideal home for individuals and families. Positioned in a vibrant and transforming Los Angeles community, this site offers convenient access to local shops, dining, and services, with the added advantage of being in the Los Angeles State Enterprise Zone, offering potential business and tax incentives. With all entitlements and waivers secured including density bonuses, FAR increases, and open space reductions this project is Ready-to-Issue and will be delivered vacant at closing, offering developers an immediate and seamless path to construction.
Property Type(s):
Lot/Land/Acreage
| Last Updated | 3/26/2025 | Community | Downtown L.A. |
|---|---|---|---|
| County | Los Angeles |
Price History
| Prior to Mar 26, '25 | $2,175,000 |
|---|---|
| Mar 26, '25 - Today | $1,885,000 |
Additional Details
| AREA | Downtown L.A. |
|---|---|
| LOT | 9807 sq ft |
| LOT DIMENSIONS | 84 x 120 |
| VIEW DESCRIPTION | None |
| ZONING | C2-1VL |
Location
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Listed with Keller Williams Beverly Hills
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.
This IDX solution is (c) Diverse Solutions 2025.
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