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OFF MARKET Distressed Assets

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Property TypeMultifamily (5+)
LocationLos Angeles, California
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TitleFully RTI Ready 12 Unit Affordable Apartment Development in South Los Angeles Ready for Demolition
Summary

Fully RTI Ready 12 Unit Affordable Apartment Development in South Los Angeles Ready for Demolition- REDUCED $350K WITH SELLER CARRY OF ONLY 15% DOWN

Details

DEVELOPMENT DETAILS
Proposed New Building Size 8226 SF on 5362 SF Lot
Unit Mix (12) 1 Bedroom/1 Bathroom with 3 Stories with ADA Approved Units ready for Section 8 with no parking requirements necessary

LOCATION
Cross Streets 87th and Main St
15 Minutes to USC and 25 to DTLA
Walk Score of 73

Income and Sales Details

SALE AND FINANCING DETAILS
Demolition already paid for and roughly about $47,000 needed to pull permits
Borrower to put down 15%
Loan term 18 months at 8% I/O

ASKING PRICE WAS $1,200,000

NEW ASKING PRICE
$850,000

PLANS AVAILABLE FOR VIEWING

Asking Price$850,000.00
Date UpdatedNovember 21, 2024