1412 N Mariposa Ave - 73 Unit RTI 100% Affordable Housing Dev. Proj
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1412 N Mariposa Ave - 73 Unit RTI 100% Affordable Housing Dev. Proj
0.16 Acres of Residential Land Offered at $1,800,000 in Los Angeles, CA 90027
Investment Highlights
- 73 Unit 100% Affordable Housing Development, RTI at COE
- Rent Schedules: HCD Schedule VI and TCAC Schedule IX
- Walk Score of 90 “Walker’s Paradise”
- Opportunity Zone
- Focus on efficiency units averaging 195 SF
- Mostly Stacked Design - Type III-A Construction
Executive Summary
PartnersCRE is proud to present a Ready-to-Issue (RTI) 73-unit (72 Units + 1 ADU), 100% Affordable Housing Development Opportunity on a 6,789 SF lot in the vibrant neighborhood of East Hollywood. The Accessory Dwelling Unit (ADU) is already approved in the LADBS Letter of Compliance, enhancing its overall value. The property is in an Opportunity Zone!
The proposed development features 19,024 SF of total floor area with 15,062 SF of rentable square footage (plus 382 SF of the ADU), in a 5-story building design with Type III-A construction.
The majority of the 72 + 1 units are efficiency units, with sizes averaging 195 SF. This design allows for significantly lower rental prices compared to neighboring properties while still generating high yields per square foot. The restricted rent levels for the project include 80% designated for TCAC Schedule IX low-income tenants and 20% for HCD Schedule VI moderate-income tenants.
East Hollywood is a thriving area known for its rich cultural diversity and strong community. The Mariposa Apartments project is conveniently located within a short walk to Kaiser Permanente and Children’s Hospital, making it an ideal residence for healthcare workers and families. The property is situated in a Transit-Priority Zone, with easy access to major public transportation routes, including the Vermont/Sunset Metro Subway Station, further enhancing its appeal to residents who rely on transit.
The property’s location offers convenient access to parks and recreational areas (including Barnsdall Park), enhancing the vibrant living experience for residents. With zero parking requirements, developers can eliminate the high costs associated with on-grade parking, further increasing the project’s affordability.
Additionally, the area boasts an impressive Walk Score of 90, classifying it as a “Walker’s Paradise,” with a wide range of amenities and services just a short distance away.
All entitlement approvals are in place, and the property will be delivered with Ready-to-Issue status and vacant at the close of escrow.
No prevailing wage requirements. No SB 8 replacement requirements. No construction lift needed as building is less than 60 feet in height.
The proposed development features 19,024 SF of total floor area with 15,062 SF of rentable square footage (plus 382 SF of the ADU), in a 5-story building design with Type III-A construction.
The majority of the 72 + 1 units are efficiency units, with sizes averaging 195 SF. This design allows for significantly lower rental prices compared to neighboring properties while still generating high yields per square foot. The restricted rent levels for the project include 80% designated for TCAC Schedule IX low-income tenants and 20% for HCD Schedule VI moderate-income tenants.
East Hollywood is a thriving area known for its rich cultural diversity and strong community. The Mariposa Apartments project is conveniently located within a short walk to Kaiser Permanente and Children’s Hospital, making it an ideal residence for healthcare workers and families. The property is situated in a Transit-Priority Zone, with easy access to major public transportation routes, including the Vermont/Sunset Metro Subway Station, further enhancing its appeal to residents who rely on transit.
The property’s location offers convenient access to parks and recreational areas (including Barnsdall Park), enhancing the vibrant living experience for residents. With zero parking requirements, developers can eliminate the high costs associated with on-grade parking, further increasing the project’s affordability.
Additionally, the area boasts an impressive Walk Score of 90, classifying it as a “Walker’s Paradise,” with a wide range of amenities and services just a short distance away.
All entitlement approvals are in place, and the property will be delivered with Ready-to-Issue status and vacant at the close of escrow.
No prevailing wage requirements. No SB 8 replacement requirements. No construction lift needed as building is less than 60 feet in height.
Property Facts
| Price | $1,800,000 | Property Subtype | Residential |
| Sale Type | Investment | Total Lot Size | 0.16 AC |
| No. Lots | 1 | Opportunity Zone |
Yes
|
| Property Type | Land |
| Price | $1,800,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.16 AC |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Price | $1,800,000 | Lot Size | 0.16 AC |
| Price Per AC | $11,549,270 |
| Price | $1,800,000 |
| Price Per AC | $11,549,270 |
| Lot Size | 0.16 AC |
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Walk Score ®
Walker's Paradise (90)
Transit Score ®
Excellent Transit (72)
Bike Score ®
Very Bikeable (73)
zoning
| Zoning Code | RD2-1XL |
| RD2-1XL |
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1412 N Mariposa Ave - 73 Unit RTI 100% Affordable Housing Dev. Proj
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