836 W 42nd Place, Los Angeles, CA 90037

About this property

NEW PRICE now that it is Fully RTI! We are pleased to exclusively present for sale a Ready-to-Issue construction project consisting of 31 Residential Units + 1 ADU just south of the LA Memorial Coliseum and Banc of California Stadium. Situated on W. 42nd Pl. between S. Hoover and Menlo Ave., this 14,170 SF R3-1 Tier 3 double-lot has 103 feet of frontage. The property has been Ellised and currently features 2 Duplexes which will be delivered vacant, with Demolition Permits Ready-to-Issue. With a TOC Letter of Determination and a recorded Rental Covenant Agreement, get your construction crew ready! This project is FULLY RTI! The design consists of one Studio, two 1+1, two 2+1, three 3+2, seventeen 4+2, one 4+3, four 5+2, two 5+3. 75% of the project's unit mix are 4 bedrooms and 5 bedrooms, which makes this a fantastic opportunity for Co-Living! 4 units are reserved for Very Low Income tenants and one unit for Extremely Low Income tenants. The property is about a half mile south of the LA Coliseum and Banc of California Stadium, in the backyard of USC and a mile to the Exposition Light Rail Line Station, all a hop and a skip away for future residents. Easy access to 110 & 10 freeways will make an easy commute to DTLA and everywhere else in Los Angeles. The property has the new APN 5019-006-032 that was created from the merger of the two previous APNs (the listed APN no longer exists). A great option for this property is to rent to Section 8 tenants. There are few buildings with this unit mix being built that are not managed by a co-living operator, so this could be a great match for Section 8. Rents for Section 8 have increased as of 11/1/2022.

Listing description from the October 2023 sale, as reported to CRMLS.

Sale history

$1,900,000

Sold October 2023 · listed $1,990,000, on market June 2023 · MLS #23285095 · Source: CRMLS

Listing Agent: Dario Svidler · Listing Office: Keller Williams Beverly Hills · Contact: 310-432-6400 · Bought with: Dario Svidler · Keller Williams Beverly Hills

$645,000

Sold October 2018 · listed $680,000, on market July 2018 · MLS #MB18170715 · Source: CRMLS

Listing Agent: ROBERTO ARAYA · Listing Office: Excellence RE Real Estate · Contact: 562-948-4553 · Bought with: George Gorgy · Premier Investors R.E., Inc.

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