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11151 Broadway
Los Angeles, CA 90061
Partners CRE is proud to present for sale a ready-to-issue (RTI) 40-unit, 100% affordable housing development on a 7,286 SF lot at 11151 S Broadway in Los Angeles. Designed to offer efficient, affordable housing, this project provides significant value to developers seeking a cost-effective development opportunity in the Los Angeles market. The proposed development features a 16,479 SF, four-story, Type V-A construction with a compact, stacked design that maximizes space. With zero parking spaces, the design focuses on efficient, affordable living. All 40 units are thoughtfully composed of 9 studios, 30 one-bedroom, and 1 two-bedroom apartments. Affordable Housing Designation:* 2 Very Low-Income Unit* 31 Low-Income Units* 6 Moderate-Income Units* 1 Market-Rate Manager's UnitRent levels for very low and moderate-income units adhere to HCD Schedule VI, while rents for low-income units follow HUD Schedule I. The property's location may attract Section 8 voucher tenants, offering potential for increased income by approximately 20% per unit. Delivered vacant at COE, this property offers an exceptional opportunity for developers to enter the affordable housing market with a fully RTI project.
PROPERTY INFORMATION
| MLS # | 24460697 | Lot Size | 7,286 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,590,000
Price Per SqFt: $ 218 |
DOM | 246 Days |
| Address | 11151 Broadway | Type | Land |
| City | Los Angeles | Sq.Ft. | 7,286 Sq. Ft. |
| Postal Code | 90061 | Garage | N/A |
| County | Los Angeles | Year Built | |
| Bed / Bath | 0 / 0 | Parking | N/A |
| Built In | Status | Active | |
INTERIOR FEATURES
| Has Appliances | Yes |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,696
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 11/12/2024 | Listed | $1,590,000 |
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Listing provided courtesy of Jordan Petito, Keller Williams Beverly Hills. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
