12016 S Figueroa St Los Angeles CA MLS #24-374701

12016 S Figueroa St
Los Angeles, CA,
$1,060,000
Beds
0 Baths
SqFt
0.22 Acres
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We are pleased to present for sale an (ED 1) Executive Directive 1 affordable 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. The combined lot size of 11,362 sqft makes this a prime candidate for a 100% fully affordable 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. Contact listing agent for more details!

Property Details

Price:
$1,060,000
MLS #:
24-374701
Status:
Active
Baths:
0
Address:
12016 S Figueroa St
Type:
Land
Neighborhood:
metropolitansouthwest
City:
Los Angeles
Listed Date:
Apr 2, 2024
State:
CA
Lot Size:
11,362 sqft / 0.22 acres (approx)
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Jane Peters

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CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share). This site was last updated 2024-05-05.
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12016 S Figueroa St
Los Angeles, CA
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