142 S Mountain View Avenue 5154004016
Los Angeles, CA, 90057
$1,295,000
Beds
0 Baths
SqFt
0.14 Acres
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PartnersCRE is proud to present for sale a ready-to-issue (RTI) 22-unit, 100% affordable housing project on a 6,243 SF lot in the desirable Westlake area of Los Angeles. The proposed development features a total of 12,780 SF of gross floor area, with 9,947 SF of net rentable square footage. This 3-story building is constructed with Type V-B materials, ensuring compliance with safety standards while maintaining affordability. Each unit is designed with efficiency in mind, offering a quality living experience in a compact space. The affordable housing breakdown includes 16 low-income units (TCAC Schedule IX), 5 moderate-income units (HCD Schedule VI), and 1 market-rate manager’s unit. The rent amounts 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. The Westlake location situates this project within walking distance to multiple public transportation routes, connecting residents to Downtown LA and other key areas. The development is ideal for residents who rely on public transit, with a Walk Score of 89, classifying it as "Very Walkable." The project’s RTI status streamlines the development process, providing a unique opportunity to deliver affordable housing in a high-demand area. With its efficient layout, affordability, and convenient location, this Westlake development is positioned to become a valuable addition to Los Angeles’ housing landscape.
LISTING AGENT: Jordan Petito
LISTING BROKERAGE: Keller Williams Beverly Hills
142 S Mountain View Avenue 5154004016
Los Angeles, CA

Property Details

Price:
$1,295,000
MLS #:
24406801
Status:
Active
Baths:
0
Address:
142 S Mountain View Avenue 5154004016
Type:
Land
Neighborhood:
c42downtownla
City:
Los Angeles
Listed Date:
Jun 17, 2024
State:
CA
ZIP:
90057
Lot Size:
6,245 sqft / 0.14 acres (approx)
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The Agency fully supports the Equal Housing Opportunity laws. The Agency IP Holdco, LLC and its parents, affiliates, subsidiaries, franchisees of its affiliates, and network partners make no representations, warranties, or guaranties as to the accuracy of the information contained herein, including square footage, lot size or other information concerning the condition, suitability or features of the property. All material is intended for informational purposes only and has been obtained from public records, MLS, or other sources believed to be reliable, but not verified. All prospective buyers should conduct a careful, independent investigation of the information and property, and consult with appropriate professionals, such as appraisers, architects, civil engineers, etc. CalDRE #01904054

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