This project is Fully RTI, Shovel Ready!!! Best priced RTI development deal in L.A. There are NO linkage fees (grandfathered), so permits are 200K instead of 500K. Most L.A. projects are not grandfathered from linkage fees. Every return on investment metric shot way higher now that the price has gone from 3M to 1.75M!!! Fast Close Wanted! 36-Unit Apartment Entitlement • 500 W Alondra Blvd Los Angeles 90248 (New Address) • 16101 S Figueroa St Los Angeles 90248 (Former Address) • Southwest Corner of Alondra and Figueroa (L.A. City Proper, not in Gardena) • APN: 6120-023-033 (Proposed Building Site) • APN: 6120-023-034 (Park and Picnic Site; small strip of land) • Lot Size: 20,366 SF (19,417 SF + 949 SF) • Units: 36, All 3 Bed, 2 Bath • Market Units: 33 • Restricted Units: 3 (VLI Rent as Part of CA Bonus Density Program) • Residential Stories: 4 (Staggered 2 to 4 stories) • Parking Levels: 2 • Parking Stalls: 54 • Building Size: 36,000 SF roughly • Roof Deck: 6300 SF roughly • Expenditures Already paid over 800K including Sewer Fee • Market Rent $2735 (33x) – Matches L.A. Section 8 Amount (2020) • Restricted Rent $914 (3x) – Allowable Rent by HUD (2019) • Gross Annual Rent: $1,115,964 (100% Occupancy) • Annual Expenses Total: $200,195 • Net Operating Income $915,769 (98.5% Occupancy) • Cost of Construction: $8M Estimated • Equity: 9.55M • Equity Percentage: 50% Roughly • Market Value of New Building: $19.3M Estimated (4.75% Cap Rate)

Listed By CRMLS_CA / Bret Lewis / Bret Lewis, Broker

Last checked: Checking… • Last updated Apr 19, 2025 • Source: CRMLS_CA

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