500 W Alondra Street
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- – on site
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)
Last checked: Checking… • Last updated Nov 26, 2020 • Source: CRMLS_CA
MLS# PW20190223 —
This property is listed in more than one place. See it here.
Amenities & Taxes
The Building
- Year Built:
- 2021
- Year Built Source:
- See Remarks
- New Construction:
- Yes
- Common Walls:
- 2+ Common Walls
- Building Area Total:
- 36000.00
- Building Area Units:
- Square Feet
- Number Of Buildings:
- 1
- Total Number Of Units:
- 36
- Stories Total:
- 4
- Number Of Separate Water Meters:
- 37
- Number Of Separate Electric Meters:
- 37
Interior
- Laundry:
- Inside
- Laundry:
- 1
Location
- Directions:
- Figueroa and Alondra: SW Corner
- Latitude:
- 33.88511000
- Longitude:
- -118.28309400
The Property
- Sub Type:
- Apartment
- Zoning:
- LAC2
- Lot Features:
- Corner Lot, Lot 20000-39999 Sqft, Yard
- Lot Size Area:
- 20366.0000
- Lot Size Acres:
- 0.4675
- Lot Size Square Feet:
- 20366.00
- View:
- 1
- View:
- Neighborhood
- Property Attached:
- 1
- Additional Parcels Description:
- 6120-023-033, 6120-023-034
- Additional Parcels:
- No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
- Tax Census Tract:
- 2912.10
- Tax Tract:
- 22156
- Tax Lot:
- 1
The Listing
- Special Listing Conditions:
- Standard
- Parcel Number:
- 6120023033
Utilities
- Sewer:
- Public Sewer
- Water Source:
- Cistern, Public
The Community
- Subdivision:
- Harbor Gateway Neighborhood
- Senior Community:
- No
- Features:
- Curbs, Gutters, Sidewalks, Urban
- Pool:
- None
- Private Pool:
- No
- Association:
- No
Parking
- Parking Spaces:
- 54.00
- Garage Spaces
- 54.00
Extra Units
- Average 3 Bed Area:
- 1000
Schools
| Rating | Details | |
|---|---|---|
|
4
|
Gardena Elementary School
|
|
|
3
|
Robert E Peary Middle School
|
|
|
2
|
Gardena Senior High School
|
GreatSchools scores are based on a scale from 1 to 10, where 10 is above average.
The school service areas are not definitive and should only be used as guidance. GreatSchools Ratings provided by www.greatschools.org
Explore the Area
My Commute
WalkScore®
Provided by WalkScore® Inc.
Soundscore™
Provided by HowLoud
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
10/20/20
Oct 20, 2020
|
Price Changed | CRMLS_CA | $1,699,000 | -2.9% |
|
10/14/20
Oct 14, 2020
|
Price Changed | CRMLS_CA | $1,749,000 | -0.1% |
|
9/22/20
Sep 22, 2020
|
Price Changed | CRMLS_CA | $1,750,000 | -12.5% |