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142 S Mountain View Avenue

Los Angeles, CA 90057

$1,295,000

List Price

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Property Description

PartnersCRE is proud to present for sale a ready-to-issue (RTI) 22-unit, 100% affordable housing project on a 6,243 SF lot in the desirable Westlake area of Los Angeles. The proposed development features a total of 12,780 SF of gross floor area, with 9,947 SF of net rentable square footage. This 3-story building is constructed with Type V-B materials, ensuring compliance with safety standards while maintaining affordability. Each unit is designed with efficiency in mind, offering a quality living experience in a compact space. The affordable housing breakdown includes 16 low-income units (TCAC Schedule IX), 5 moderate-income units (HCD Schedule VI), and 1 market-rate manager's unit. The rent amounts for the very low and moderate-income units can be found on HCD Schedule VI, while the rent for the low-income units can be found on TCAC Schedule IX. Additionally, the location of this property may attract Section 8 voucher tenants, increasing the potential income by around 20% for each unit. The Westlake location situates this project within walking distance to multiple public transportation routes, connecting residents to Downtown LA and other key areas. The development is ideal for residents who rely on public transit, with a Walk Score of 89, classifying it as "Very Walkable." The project's RTI status streamlines the development process, providing a unique opportunity to deliver affordable housing in a high-demand area. With its efficient layout, affordability, and convenient location, this Westlake development is positioned to become a valuable addition to Los Angeles' housing landscape.

Listing Information

List Price $1,295,000
Status Active
MLS 24406801
Type Land
Lot Size 6,245
Structure Size N/A
DOM 139
Courtesy Of Keller Williams Beverly Hills
Listing Agent Jordan Petito DRE#02023714
Co-Listing Agent Dario Svidler DRE#01884474

Interior Features

Total Bedroom
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Exterior Information

Maps

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$2,200,000

king_bed 10
shower 10
straighten 6,536
straighten 6,388
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$1,700,000

king_bed N/A
straighten N/A
straighten 8,153
155 S Alvarado Street,

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$1,500,000

king_bed 8
shower 4
straighten 5,440
straighten 8,153
155 S Alvarado Street,

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$1,699,999

king_bed 5
shower 3
straighten 2,466
straighten 4,942
2021 Miramar Street,

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$9,995/month

king_bed 4
shower 4
straighten 2,500
straighten 5,995
109 N Westlake Avenue, #2,

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Listing information courtesy of: Jordan Petito, Dario Svidler, Keller Williams Beverly Hills 310-734-2245. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 5th, 2024 at 2:10 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.