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47 Unit RTI - 4 Story Apt Building 4424-4428 S Western Ave

3,696 SF Retail Building Los Angeles, CA 90062 $4,354,508 CAD ($1,178 CAD/SF)

Investment Highlights

  • RTI 47-unit Type V-A – 4 story apartment building dedicated entirely to affordable housing.
  • Qualifies for the TOC (Transit Oriented Communities) Tier 4 affordable housing program.
  • The building will include 8 units for very low-income residents, 38 units for low-income residents, and 1 unit for property manager.
  • The project is fully privately funded, with no reliance on tax credits or public housing programs.

Executive Summary

PLEASE SEE ATTACHED MARKETING PACKAGE FOR FULL INFORMATION:
PCS Group is pleased to exclusively present for sale an RTI 47-unit Type V-A – 4 story apartment building dedicated entirely to affordable housing, replacing an existing one story commercial structure of 3,696 square feet with a total area of 28,773 square feet. The architectural design features stacked, offset masses that not only enhance the building‘s visual appeal but also create recessed spaces for landscaped areas. This dynamic yet balanced façade aligns with modern architectural trends, offering both functionality and aesthetic appeal. The building will include 8 units for very low-income residents (as per Schedule VI), 38 units for low-income residents (as per Schedule I), and 1 unit reserved for the building manager, with no on-site parking provided to promote an environmentally friendly project, and aligns with the city goals. A roof deck will offer common open space, enhancing the living experience for residents. The project is fully privately funded, with no reliance on tax credits or public housing programs, and by setting aside 100% of the units for affordable housing, it qualifies for the TOC (Transit Oriented Communities) Tier 4 affordable housing program, contributing to the availability of low-cost housing options in the area.

Property Facts

Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,696 SF
Building Class
C
Year Built
1956
Price
$4,354,508 CAD
Price Per SF
$1,178 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.32
Land Acres
0.27 AC
Opportunity Zone
Yes
Zoning
C2-2D-CPIO - Empowerment Congress Central C2 Corner Lots, 50 Potential Units with TOC Tier 3
Parking
17 Spaces (4.6 Spaces per 1,000 SF Leased)
Frontage
89 ft on Western Ave

Amenities

  • Bus Line
  • Corner Lot
  • Fenced Lot

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 5016-004-004
  • 5016-004-005
Land Assessment
$1,854,720 CAD
Improvements Assessment
$390,352 CAD
Total Assessment
$2,245,072 CAD
  • Listing ID: 33143155

  • Date on Market: 2024-09-11

  • Last Updated:

  • Address: 4424-4428 S Western Ave, Los Angeles, CA 90062

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