325 N Fickett Street

    Los Angeles (City), CA 90033
    • $1,895,000
    • STATUS: Active
    • ON SITE: 51 days
    • ID#: 19521884
    $1,895,000
    • 0
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    County:

    School Ratings & Info

    Description

    Amazing opportunity to acquire this affordable housing, development-ready site in East Los Angeles. The site is RTI to build 22 units in lieu of the normally allowable 12 units. This project is designed as a 100% affordable housing project, and as such, takes advantage of density bonus incentives offered through the Transit Oriented Communities program in The City of Los Angeles. The building is designed to be economically and readily built, engineered for efficiency. In addition, ZERO parking is required, thereby providing tremendous savings on the cost of construction. This 100% affordable, 3-story multifamily development project proposes to provide 22 units with a unit mix of all one-bedroom, one-bathrooms-each with it's own private balcony or patio. The project also includes a bicycle room and on-site laundry. Currently, the property is a vacant lot so there are no relocation or demolition costs for the Buyer. Projected Developer Profit: ~$1,478,000! Or build to a ~7.05% cap rate!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-12-09T00:25:25.627. 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 deemed reliable but is not guaranteed accurate by the MLS or J1 REALTY GROUP. Licensed in the State of California, USA.

    www.j1re.com/homes/100076292

    325 N Fickett Street Los Angeles (City), CA 90033

    • Price: $1,895,000
    • Status: Active
    • ID#: 19521884
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    Neighborhood:
    BOYH - Boyle Heights
    County:
    Los Angeles
    Area:
    BOYH - Boyle Heights
    Property Description
    Amazing opportunity to acquire this affordable housing, development-ready site in East Los Angeles. The site is RTI to build 22 units in lieu of the normally allowable 12 units. This project is designed as a 100% affordable housing project, and as such, takes advantage of density bonus incentives offered through the Transit Oriented Communities program in The City of Los Angeles. The building is designed to be economically and readily built, engineered for efficiency. In addition, ZERO parking is required, thereby providing tremendous savings on the cost of construction. This 100% affordable, 3-story multifamily development project proposes to provide 22 units with a unit mix of all one-bedroom, one-bathrooms-each with it's own private balcony or patio. The project also includes a bicycle room and on-site laundry. Currently, the property is a vacant lot so there are no relocation or demolition costs for the Buyer. Projected Developer Profit: ~$1,478,000! Or build to a ~7.05% cap rate!
    Exterior Features

    Lot Size Dimensions 50X170 Lot Size Units Square Feet View See Remarks View YN Yes

    Property Features

    Association Fee 0.00 Special Listing Conditions Standard Zoning Lar3

    Listing provided courtesy of Ardy Ishal of Brc Advisors- Bh


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-12-09T00:25:25.627. 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 deemed reliable but is not guaranteed accurate by the MLS or J1 REALTY GROUP. Licensed in the State of California, USA.

     
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