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11151 S Broadway
USD 1,695,000
Property ID: 24404977
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11151 S Broadway ,90061
icon Land
icon 7288 SqFt
icon Built in 0001
icon USD 233/SqFt
icon 0 Bed
icon 0 Full
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Location Street View
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Interior Details
Bedrooms
0
Bathrooms
0
Interior Size
0
Construction Details
Property Type Land
Property Condition --
Architectural Style --
New Construction --
Year Built 0001
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Detailed Introduction Of This Home
11151 S Broadway is an affordable housing development opportunity located just off of the 110 & 105 Freeways on the corner of Broadway & W 111th Pl. The 7,286 SF lot will be delivered fully entitled for 40 income-restricted housing units with no parking required. The project's central infill location and proximity to major employment hubs in the vicinity such as Martin Luther King Community Hospital support multiple lease-up strategies including filling units through PATH, LAHSA or Section 8. The project is also walkable to the Harbor Freeway Metro C Line Station, connecting tenants to the employment hubs in the South Bay and Silicon Beach, including LAX and ~500 technology companies. Plans call for an efficient four-story project, utilizing Type V-A construction for a stacked design reducing construction costs for the developer. The lot will be delivered vacant at the close of escrow, allowing a developer to break ground immediately, without navigating the planning process or taking on additional risk through pending ordinances that are limiting the development of similar high density affordable projects. The finished project totals 21,858 SF and has a desirable unit mix of nine singles, thirty one bedrooms, and one two-bedroom. The project is offered at a low $42,375 price per buildable unit, allowing a privately funded developer the opportunity to develop a high yielding project and capture a strong return on cost with zero tax credits or government subsidies. In addition, the affordability of the project opens avenues of mission driven financing through CDFIs or mission driven lenders (contact agent for details). Located in a dense location of South Los Angeles, close to multiple Metro local lines along Broadway. The access to the 110 & 105 Freeways allow for a convenient commute throughout Los Angeles, the South Bay, and throughout the Mid-Counties.
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Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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11151 S Broadway
USD 1,695,000 0 Beds
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