11151 S Broadway

Description

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.

Listing information courtesy of: Jordan Petito, Keller Williams Beverly Hills 310-734-2245. *Based on information from the Association of REALTORS/Multiple Listing as of 01/10/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.