8942-8956 S Western Ave
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8942-8956 S Western Ave
71 Unit Apartment Building $3,500,000 ($49,296/Unit) Los Angeles, CA 90047
Investment Highlights
- One of a kind opportunity to acquire a fully RTI project in South Los Angeles
- Five story project with ground level parking – NO subterranean parking
- Alternatively existing improvements can be occupied by owner user or investor
- Property is fully approved and will be delivered with all entitlements for 71 apartments
- Prime corner location in south LA, adjacent to rapidly gentrifying Inglewood submarket
Executive Summary
The current improvements to the site are fully vacant with no tenants in place. The site is fully RTI for a 71 unit apartment complex including 44 studios and 27 1-bedrooms, with an 8% affordable requirement. The asset presents an amazing opportunity for a developer to come in and break ground right away in an up and coming location near SoFi stadium.
Alternatively, properties may be acquired by owner user or investor interested in rehabbing and using the existing properties.
Alternatively, properties may be acquired by owner user or investor interested in rehabbing and using the existing properties.
Property Facts
| Price | $3,500,000 | Apartment Style | Mid Rise |
| Price Per Unit | $49,296 | Building Class | A |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Sale Conditions | Redevelopment Project | Construction Status | Proposed |
| No. Units | 71 | Building Size | 17,645 SF |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Parking Ratio | 2.04/1,000 SF |
| Price | $3,500,000 |
| Price Per Unit | $49,296 |
| Sale Type | Investment |
| Sale Conditions | Redevelopment Project |
| No. Units | 71 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | A |
| Lot Size | 0.13 AC |
| Construction Status | Proposed |
| Building Size | 17,645 SF |
| No. Stories | 5 |
| Parking Ratio | 2.04/1,000 SF |
Site Amenities
- Bicycle Storage
- Car Charging Station
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 27 | - | - |
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Walk Score ®
Very Walkable (78)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $319,371 | |
| Land Assessment | $1,503,021 | Total Assessment | $1,822,392 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,503,021
Improvements Assessment
$319,371
Total Assessment
$1,822,392
zoning
| Zoning Code | C2 – 1VL-CPIO |
| C2 – 1VL-CPIO |
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8942-8956 S Western Ave
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