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    500 W Alondra Street

    Los Angeles (City), CA 90248
    • $1,699,000
    • STATUS: Active
    • ON SITE: 45 days
    • ID#: PW20190216
    Price Reduced
    UPDATED: 25 min ago
    $1,699,000
    • 0
      BEDS
    • 0.47
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    County:

    School Ratings & Info

    Description

    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+G- 500 W Alondra Blvd Los Angeles 90248 (New Address)+G- 16101 S Figueroa St Los Angeles 90248 (Former Address)+G- Southwest Corner of Alondra and Figueroa (L.A. City Proper, not in Gardena)+G- APN: 6120-023-033 (Proposed Building Site)+G- APN: 6120-023-034 (Park and Picnic Site; small strip of land)+G- Lot Size: 20,366 SF (19,417 SF + 949 SF) +G- Units: 36, All 3 Bed, 2 Bath +G- Market Units: 33+G- Restricted Units: 3 (VLI Rent as Part of CA Bonus Density Program)+G- Residential Stories: 4 (Staggered 2 to 4 stories) +G- Parking Levels: 2+G- Parking Stalls: 54+G- Building Size: 36,000 SF roughly+G- Roof Deck: 6300 SF roughly+G- Expenditures Already paid over 800K including Sewer Fee+G- Market Rent $2735 (33x) +GG Matches L.A. Section 8 Amount (2020)+G- Restricted Rent $914 (3x) +GG Allowable Rent by HUD (2019)+G- Gross Annual Rent: $1,115,964 (100% Occupancy)+G- Annual Expenses Total: $200,195+G- Net Operating Income $915,769 (98.5% Occupancy)+G- Cost of Construction: $8M Estimated+G- Equity: 9.55M+G- Equity Percentage: 50% Roughly+G- Market Value of New Building: $19.3M Estimated (4.75% Cap Rate)

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-28T22:28:56.28. 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 Provident Real Estate. Licensed in the State of California, USA.

    www.providentrealestate.com/homes/109963036
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    500 W Alondra Street Los Angeles (City), CA 90248

    • Price: $1,699,000
    • Status: Active
    • Updated: 25 min ago
    • ID#: PW20190216
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.47
    Acres
    Neighborhood:
    699 - Not Defined
    County:
    Los Angeles
    Area:
    699 - Not Defined
    Property Description
    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+G- 500 W Alondra Blvd Los Angeles 90248 (New Address)+G- 16101 S Figueroa St Los Angeles 90248 (Former Address)+G- Southwest Corner of Alondra and Figueroa (L.A. City Proper, not in Gardena)+G- APN: 6120-023-033 (Proposed Building Site)+G- APN: 6120-023-034 (Park and Picnic Site; small strip of land)+G- Lot Size: 20,366 SF (19,417 SF + 949 SF) +G- Units: 36, All 3 Bed, 2 Bath +G- Market Units: 33+G- Restricted Units: 3 (VLI Rent as Part of CA Bonus Density Program)+G- Residential Stories: 4 (Staggered 2 to 4 stories) +G- Parking Levels: 2+G- Parking Stalls: 54+G- Building Size: 36,000 SF roughly+G- Roof Deck: 6300 SF roughly+G- Expenditures Already paid over 800K including Sewer Fee+G- Market Rent $2735 (33x) +GG Matches L.A. Section 8 Amount (2020)+G- Restricted Rent $914 (3x) +GG Allowable Rent by HUD (2019)+G- Gross Annual Rent: $1,115,964 (100% Occupancy)+G- Annual Expenses Total: $200,195+G- Net Operating Income $915,769 (98.5% Occupancy)+G- Cost of Construction: $8M Estimated+G- Equity: 9.55M+G- Equity Percentage: 50% Roughly+G- Market Value of New Building: $19.3M Estimated (4.75% Cap Rate)
    Exterior Features

    Lot Features Corner LotLot 20000-39999 SqftYard Lot Size Source Assessor Lot Size Units Square Feet View Neighborhood View YN Yes

    Property Features

    Additional Parcels Description 6120-023-0336120-023-034 Additional Parcels YN No Association Fee 0.00 Association YN No Community Features CurbsGuttersSidewalksUrban Country Us Current Use Comments 36 Unit Apartment Project Rti Distance To Water Comments 0 Elevation Units Feet Land Lease YN No New Construction YN No Possible Use Comments 36 Unit Apartment Project Rti Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Harbor Gateway Neighborhood Water Source CisternPublic Zoning Lac2

    Listing provided courtesy of Bret Lewis of Bret Lewis, Broker


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-28T22:28:56.28. 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 Provident Real Estate. Licensed in the State of California, USA.

     
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