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We are pleased to present for sale an excellent affordable housing development opportunity located in the Metropolitan Southwest neighborhood of Los Angeles, within close proximity to LAX, Sofi Stadium, Gardena, Downtown LA and much more! Current improvements include 4 residential units situated on two separate APN's: APN 6117004005 (City of LA) & APN 6117004027 (Unincorporated LA County), with the addresses 12016-12108 S Figueroa. Zoned R3-1, the combined lot size of 11,362 sqft makes this a prime candidate for a 100% fully affordable ED 1 apartment project (seller has had conversations with architect for a 70 unit fully affordable project). Take advantage of the ED 1 fully affordable program, which provides for expedited processing, higher density, and reduced setbacks through the ED1 Ministerial Approval Process. Property also comes with an alley which allows for maximized design and parking. All 4 units are currently tenant occupied and the property will be sold with tenants in place. Currently monthly income from the units is $3,200/month, collect income while going through entitlements! Buyer to verify all zoning & density regulations with LADBS, LA County, and all relevant departments. Close proximity to major transportation (105 & 110 Freeways). Do not miss this opportunity to build in a centrally located part of LA with tons of upside at an affordable price point.
Property Type(s):
Lot/Land/Acreage
| Last Updated | 4/30/2025 | Community | Metropolitan Southwest |
|---|---|---|---|
| County | Los Angeles |
Additional Details
| AREA | Metropolitan Southwest |
|---|---|
| LOT | 0.26 acre(s) |
| VIEW DESCRIPTION | None |
| ZONING | LAR3 |
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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