For Sale
$948,000

10200 Main StLos Angeles, CA 90003

18-unit affordable housing, prime location.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents an entitled 18-unit affordable housing project situated on a 5,310 square foot lot in Los Angeles, California. The property, located at 10200 S Main St, Los Angeles, CA 90003 (APN 6063-009-001), is zoned C-2 and offers a straightforward development path within an existing structure. The project plans include 18 units, each approximately 200 square feet with a full bathroom, catering to the significant demand for low-income housing in the area. The asking price is $948,000, translating to a land value of $178.53 per square foot. The current tenant is on a month-to-month lease, generating a monthly income of $5,600, resulting in a pro-forma NOI of $44,990 and a pro-forma cap rate of 4.75%. This project offers a compelling opportunity to capitalize on the growing need for affordable housing while achieving a strong return on investment. The existing building provides a cost-effective foundation for the development, minimizing construction complexities and accelerating the project timeline. This is a rare chance to acquire an entitled project ready for immediate development in a high-demand market.

Highlights

  • Entitlement for an 18-unit, 100% affordable housing project.
  • Conversion of a 4,000+/- sq. ft. building into 18 units, each approximately 200 sq. ft. with a full bath.
  • Current tenant on a month-to-month lease, paying $5,600 annually, representing a 4.75% cap rate.
  • Addresses a critical need for low-income housing.

Property Details for 10200 Main St

Property type
Land

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
33.943754027735
Longitude
-118.27391356989
10200 Main St, Los Angeles, California

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10200 Main St
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