Attention Developers and Investors!!! RTI (Ready to Issue) plans and permits in approxamelty 2 weeks in rapidly hot and growing OPPORTUNITY ZONE area. This Development Project is a 4 Unit three-story apartment building project in a great gentrifying Mid-City LA area. This neighbourhood and street has several similar projects currently in construction and has several new apartment buildings for sale and comps that have sold. This area is continuing to get better and grow. Plans consist of 4 X 3 beds + 3.5 bath units, in a separated double duplex structure each unit is varying from 1,400 - 1800 sq ft with over 6500 total livable square footage. The estimated completed value is $2.7-$2.8 million when finished and it will be a NO RENT CONTROL building. A similar RTI project just closed on 1828 Alsace for $1,260,000 further east of this property. The survey and soil report have been completed so you can start demolition right away. The projected rents vary from $3700-$4100 depending on each unit size. Comps are selling for $420-$470 per foot so this is a great buy! We have several construction bids around $850,000 for the whole project. There are many options like to rent, AIRBNB, or sell the project and all at great numbers! Lots of different options and you can take advantage of the tax benefits of the opportunity zone!
