118 W 87th Place

Los Angeles, CA 90003

RTI 11-unit ED1 TOC Tier 3 affordable development site.
Grading permit issued.
Building permit application Ready to Issue.

For Sale
$698,888

118 W 87th Place

Los Angeles, CA 90003

(MLS #26658415)

RTI affordable development opportunity in South Los Angeles. Proposed 11-unit, 3-story apartment project under ED1 and TOC Tier 3, 100% affordable. Existing triplex has been demolished. Grading permit is issued and the building permit application is Ready to Issue (RTI). Sold as-is.

Property Highlights

Price
$698,888
Lot Size
5,362 Square Feet
Zoning
LAR3
Status
Building Permit Application Ready to Issue (RTI)
Grading
Permit Issued
Proposed
11 Units, 3-Story, 100% Affordable
Programs
ED1 + TOC Tier 3
Existing
Triplex demolished
APN
6040-021-018
Covenant
Recorded affordable housing covenant runs with the land

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Property Features

118 W 87th - Conceptual Rendering3

Proposed

11+1 Unit, 3-Story Apartment Complex. 100% Affordable Housing under ED1 and TOC Tier 3.

118 W 87th - Conceptual Rendering4

Shovel Ready

RTI Ready To Issue Permit Affordable Housing development opportunity in South Los Angeles.

118 W 87th Place, Los Angeles Conceptual Rendering

Projected Rent

Every room has a view, with 360 vistas in the ''Aerie Room''.

General Information

Project Summary

RTI affordable development opportunity in South Los Angeles. Proposed 11-unit, 3-story apartment project under ED1 and TOC Tier 3, 100% affordable. Existing triplex has been demolished. Grading permit is issued and the building permit application is Ready to Issue (RTI). Sold as-is.

Due Diligence Package (available documents)

  • Approved Plans
  • LADBS Building Permit Status: Ready to Issue (RTI)
  • LADBS Grading Permit Issued
  • Grading Permit and Receipt
  • Soils Report
  • City Soils Approval Letter
  • Recorded Affordable Housing Covenant

Buyer to verify all information and review all documents.

Important Disclosure

A recorded affordable housing covenant runs with the land. Buyer must review the covenant and verify all compliance requirements, restrictions, and transferability with the appropriate agencies and professionals.

Hooman Morvarid
Hooman Morvarid
REALTOR®
[email protected]818.355.2700

Interested in

118 W 87th Place

Request the due diligence package or ask a question about permits, plans, and next steps. I will respond quickly.

Request Due Diligence Package