Description
PRICE REDUCED! Under $34,000 per unit!! KW Commercial is proud to present for sale a Ready-to-Issue (RTI) 49-unit, 100% affordable housing ED 1 development opportunity in the heart of Hollywood! Situated on a 7,895 SF lot, this five-story project has been thoughtfully designed for maximum efficiency, featuring 48 one-bedroom units and 1 studio for a total of approximately 21,753 rentable square feet. Perfectly positioned less than a mile from the Vermont/Santa Monica Metro Red Line Station and close to premier shopping, dining, and transit options, this location earns a Walk Score of 92 ("Walker's Paradise"). Affordability is at the core of this development, with: 10 units reserved for moderate-income households (110% AMI or below), 38 units reserved for low-income households (80% AMI or below), and 1 market-rate manager's unit. Applicable rent schedules include HCD Schedule VI (for very low and moderate-income units) and TCAC Schedule IX (for low-income units). The site's affordability mix may also appeal to Section 8 voucher tenants, potentially increasing income by up to 20% per unit. Designed with zero parking spaces, this project minimizes construction costs and streamlines development. The vacant lot offers a clear path to construction no tenant relocation or demolition required, allowing you to build immediately. Located within a Qualified Opportunity Zone, investors may benefit from additional tax incentives (buyer to verify). Don't miss this rare opportunity to build a brand-new, fully affordable multifamily community in one of Los Angeles' most dynamic neighborhoods, all at an exceptional value of just under $34,000/unit!! Contact the listing agent for additional details and a complete set of approved plans.
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0BEDS
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0.18ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
PRICE REDUCED! Under $34,000 per unit!! KW Commercial is proud to present for sale a Ready-to-Issue (RTI) 49-unit, 100% affordable housing ED 1 development opportunity in the heart of Hollywood! Situated on a 7,895 SF lot, this five-story project has been thoughtfully designed for maximum efficiency, featuring 48 one-bedroom units and 1 studio for a total of approximately 21,753 rentable square feet. Perfectly positioned less than a mile from the Vermont/Santa Monica Metro Red Line Station and close to premier shopping, dining, and transit options, this location earns a Walk Score of 92 ("Walker's Paradise"). Affordability is at the core of this development, with: 10 units reserved for moderate-income households (110% AMI or below), 38 units reserved for low-income households (80% AMI or below), and 1 market-rate manager's unit. Applicable rent schedules include HCD Schedule VI (for very low and moderate-income units) and TCAC Schedule IX (for low-income units). The site's affordability mix may also appeal to Section 8 voucher tenants, potentially increasing income by up to 20% per unit. Designed with zero parking spaces, this project minimizes construction costs and streamlines development. The vacant lot offers a clear path to construction no tenant relocation or demolition required, allowing you to build immediately. Located within a Qualified Opportunity Zone, investors may benefit from additional tax incentives (buyer to verify). Don't miss this rare opportunity to build a brand-new, fully affordable multifamily community in one of Los Angeles' most dynamic neighborhoods, all at an exceptional value of just under $34,000/unit!! Contact the listing agent for additional details and a complete set of approved plans.
Based on information from California Regional Multiple Listing Service, Inc. as of 2026-02-17T19:26:49.34. 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 Realty ONE Group Empire. Licensed in the State of California, USA.