Description

We are proud to present for sale a 78-Unit Ready-to-Issue 100% Affordable Project in Cypress Park, near Dodger Stadium and Mount Washington. The property is in an Opportunity Zone. The Project consists of 78 One-Bedroom units and includes around 32,325 SF of rentable square footage. The mostly-stacked 5-story design will streamline construction, with the Type III design helping to keep costs down. The design includes an elevator, a bicycle room, trash chutes, fire sprinklers and a tenant-accessible roof, which will look over all neighboring properties in this low-rise neighborhood. Around the corner from the Heritage Square Blue (A) Line Metro Station, your future Tenants will have less than a five minute walk to catch a train to Downtown's Union Station, with access to most of the City, or take the train north and stop in Highland Park, Pasadena, or continue east through the San Gabriel Valley! This sought-after area will provide your tenants with anything they need from Supermarkets to restaurants, to Home Depot, coffee shops, nightlife, easy access to two separate bicycle paths (Arroyo Seco and LA River), Dodger Stadium, Metro Lightrail, Highland Park, Frogtown, Chinatown and DTLA, among others. Walk Score calls this area Very Walkable, with Good Transit and Bikeable. The 11,139 SF Lot is zoned RD2-1-CDO, Tier 3 TOC, with currently-allowed Section 8 rents up to $2,289. This property is located about half a mile to the just-finished Studio 34 Apartment Campus "A34", which should have an outsized impact on the neighborhood. The current structures have been Ellis'd and will be delivered vacant.