3424 E 1st St - Motivated Seller! | 50 Units RTI | 10,000+ SF 0.23 Acres of Commercial Land Offered at $990,000 in Los Angeles, CA 90063

This transit-oriented development opportunity at 3416 E 1st St offers investors a nearly entitled 50-unit affordable housing project in the heart of Boyle Heights, one of Los Angeles’ most active and infrastructure-supported submarkets. The 10,137 SF site is zoned C2-1CUGU with a 2.96:1 FAR and no height restriction, providing flexibility for multifamily or mixed-use development under the State Density Bonus Program and SB 79 (Abundant & Affordable Homes Near Transit Act).
Commercial Lot with potential to build Laundromat or Urgent Care.
The project’s entitlement progress significantly reduces timeline risk for developers, with approvals aligning under ED-1, eliminating parking requirements for 100% affordable scenarios. This allows for a more efficient unit mix, streamlined design, and lower construction costs compared to market-rate alternatives.
Located just 0.4 miles from the Metro E Line (Soto Station), the site enjoys seamless access to Downtown Los Angeles, Union Station, and the regional transit network, strengthening its long-term rentability and investment appeal. The surrounding neighborhood features schools, medical facilities, retail corridors, and public investment initiatives—creating strong demand for new housing product.
At an offering price of $1.1 million ($108.52/SF), the property is supported by residual land comps between $1.53M–$1.65M, underscoring its compelling entry point. For developers seeking a ready-to-execute affordable or mixed-income project, 3416 E 1st St provides a scalable opportunity to deliver housing in a high-demand, high-impact location within Los Angeles’ urban core. Recently approved for AB79.