4424 Western AveLos Angeles, CA 90062
- Retail space
- 3,696 SF
Property Details for 4424 Western Ave
- Year built
- 1956
- Construction
- WOOD
- Lot size
- 0.13 AC
- Property size (Sq ft)
- 3,696 SF
- Zone code
- LAC2
- Property type
- Retail space
- APN
- 5016-004-004
- APU
- 5016004004
Description
This exceptional 47-unit apartment building, located at 4424 & 4428 S Western Ave, Los Angeles, CA 90062, presents a compelling investment opportunity. The property boasts a total area of 28,773 square feet on an 11,592 square foot lot (APN: 5019-009-030) and is zoned C2-D2-CPIO. This four-story building, constructed as a Type V-A structure, is dedicated entirely to affordable housing, replacing a previous commercial building. The unit breakdown includes 8 units for very low-income residents, 38 units for low-income residents, and 1 manager's unit. No on-site parking is provided, aligning with environmentally friendly city goals. Architectural features include stacked, offset masses creating landscaped areas and a rooftop deck offering common open space. The project is fully privately funded, utilizing no tax credits or public housing programs. By dedicating 100% of units to affordable housing, it qualifies for the Transit Oriented Communities (TOC) Tier 4 program, contributing significantly to the area's affordable housing stock. The asking price for this prime Los Angeles property is $3,100,000.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,264,020
- 6.5%
- $1,166,790
- 7%
- $1,083,440
-
Comparable approach
- Method
- Valuation
- Relative Method
- $730,945
- Geo Method
- $730,945
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $2,318,400
- Mixed-Use / Specialty
- $1,145,230
- Hospitality / Lodging
- $817,566
- Office
- $1,120,300
- Institutional / Educational
- $1,184,360
- Residential Income
- $1,385,700
- Multifamily
- $1,758,390
- Automotive / Energy
- $1,015,160
- Parking / Income-Based Land
- $367,510
- Restaurant / Food Service
- $558,511
- Healthcare / Senior Housing
- $1,192,250
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.0031
- Longitude
- -118.309
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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