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We are pleased to present an affordable housing development opportunity at 3720 S Western Ave, located just north of W Exposition Blvd in the Exposition Park neighborhood. The 17,965 SF lot will be delivered fully entitled for 200 income-restricted housing units and 1 manager unit with no parking required. The project's central location and proximity to major employment hubs are for prime for a high velocity workforce housing lease up strategy, allowing a mission driven developer the opportunity to support the missing middle segment given the project's discount to surrounding market rents. Plans call for an efficient seven story mid-rise project, utilizing Type IA construction for a fully stacked design. The existing retail structures 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 89,655 SF and has a desirable unit mix of 32 singles and 169 one-bedrooms. The project also offers 20,100 SF of open space for recreation or supportive services. The lot is offered at a low $32,338 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 workforce housing potential and significant discount to surrounding market rents open avenues of potential construction financing without the need for prevailing wages, through CDFIs or mission driven lenders (contact agent for details).The project is located one mile west of the University of Southern California and provides convenient access to most major neighborhoods throughout Los Angeles. The property is walking distance to the Metro Expo rail line and multiple Metro local lines along Exposition Blvd. Located in a densely populated, infill submarket of Los Angeles, easy access to employment hubs such throughout Mid-City and others nearby such as Downtown LA, Koreatown, Hollywood, and South Los Angeles.
Property Type(s):
Lot/Land/Acreage
| Last Updated | 3/11/2025 | Community | Los Angeles Southwest |
|---|---|---|---|
| County | Los Angeles |
Additional Details
| AREA | Los Angeles Southwest |
|---|---|
| LOT | 0.41 acre(s) |
| VIEW DESCRIPTION | None |
| ZONING | LAC2 |
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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