4303-4313 W Pico Blvd - Commercial LAND FOR SALE


Los Angeles, CA 90019 16,514 SF
$6,000,000 USD
310-909-5406
4303-4313 W Pico Blvd, Los Angeles, CA for Sale
$6,000,000 USD
Commercial LAND - FOR SALE
1/5
16,514 SF

4303-4313 W Pico Blvd
Los Angeles, CA 90019


HIGHLIGHTS

  • The Neema Group is pleased to present an affordable housing development opportunity at 4303-4313 W Pico Blvd
  • The 16,514 SF lot will be delivered fully entitled for 152 income-restricted housing units
  • Plans call for an efficient six story mid-rise project, utilizing Type III over Type I construction for a fully stacked design aimed at reducing costs
  • The existing two retails structures will be delivered vacant at the close of escrow
  • The finished project totals 58,941 SF and has a desirable unit mix of 81 singles and 71 one-bedrooms

OVERVIEW

The Neema Group presents a unique affordable housing development opportunity at 4303-4313 W Pico Blvd in Mid City. Plans call for 152 income-restricted housing units with an ideal unit mix of 81 singles and 71 one-bedrooms with no parking required. The discount to surrounding market rents support both a voucher based and workforce housing lease-up strategy, allowing a developer multiple lease-up options and flexibility at completion. The six-story mid-rise project is designed with a stacked design, utilizing Type III over Type I construction for expedited construction and reduced costs. The project also includes 7,747 SF of open space, allowing a developer to provide additional amenities or supportive housing services for residents. The project is offered at a low $39,474 per buildable unit, offering a privately funded developer the opportunity to fund the entire project without tax credits or government subsidies. The existing two retail units will be delivered vacant at the close of escrow, allowing a developer to break ground and start on the project once permits have been pulled.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/ACRE

$15,826,571/AC

PRICE/SF

$363 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

ED-1 Development Opportunity in Mid-City

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

Retail, Apartment Units, Planned Unit Development

LAND ACRES

0.38 AC

LAND SF

16,514 SF

OFFSITE IMPROVEMENTS

-

ZONING

LAC4-1-O

APN/PARCEL ID

5082-022-005

ASK ABOUT THIS PROPERTY

Patricia EscobarMarcus & MillichapMore Info
310-909-5406

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Patricia EscobarMarcus & MillichapMore Info
310-909-5406

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.