Filip Niculete
This listing was posted on RealtyWW.
$5,200,000
Plot For Sale In Los Angeles, California
Price:
$5,200,000
Location:
1322 Maryland St, Los Angeles, CA
Description:
We are excited to present 1322 Maryland St, a 100% affordable, RTI (Ready-to-Issue) development project to build 121 units located in the Westlake neighborhood of Los Angeles, which is just a few minutes South of Echo Park and West of Downtown.The project consists of 119 one-bedroom units, 2 two-bedroom units, and 8 stories. The building is made up of 5 stories of Type III-A over 3 levels of Type I-A, and there are no parking requirements. This will help reduce both the time and cost to build. The developer has the option to rent to Section 8 tenants, which could result in higher rents.Upon completion, the building is projected to generate $230, 603 per month, amounting to $2, 767, 236 annually, from the scheduled covenant rents. If all units are rented to Section 8 tenants, the monthly revenue is expected to increase to $292, 130, resulting in an annual income of $3, 505, 560.The offering is located in Central Los Angeles and combines residential and commercial living. It is surrounded by Silver Lake to the north, Downtown to the southeast, and Pico-Union to the southwest, with Koreatown to the west. The area has a rich history, having developed primarily in the 1920s. The area has since undergone a transformation, with many of its historic mansions now converted into apartments. As a result of high demand for housing in this dynamic and ever evolving part of the city, new multi-family buildings have been constructed.For more details: https://realtyww.info/land-lots_los-angeles-d523223/for-sale_i72157804
Property Type:
Land for Sale
Posted:
May 23 on RealtyWW
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More About this Listing: Plot For Sale In Los Angeles, California
Plot For Sale In Los Angeles, California is a Land for Sale at 1322 Maryland St in Los Angeles CA. Find other listings like Plot For Sale In Los Angeles, California and listings near 1322 Maryland St by searching Oodle Classifieds for Land for Sale in Los Angeles CA.
Plot For Sale In Los Angeles, California is a Land for Sale at 1322 Maryland St in Los Angeles CA. Find other listings like Plot For Sale In Los Angeles, California and listings near 1322 Maryland St by searching Oodle Classifieds for Land for Sale in Los Angeles CA.