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MLS® ID: PW18285635

16101 S Figueroa Street

Los Angeles, California, 90248

$2,250,000 Pending
  • - SQFT
There is an awesome update about the transformer situation below! 36-Unit Apartment Entitlement Project • 16101 S Figueroa St Los Angeles 90248 (Google Maps Link) • SW Corner of Figueroa and Alondra (not in Gardena, it’s in L.A. proper) • APN: 6120-023-033 (new building location) • APN: 6120-023-034 (park/picnic area, small strip of land) • Lot Size: 20,366 SF (19,417 SF + 949 SF) • 36 Units, All 3 bed, 2 bath • 33 Market Units • 3 Restricted Units (VLI Rental Rate, Part of CA Bonus Density Program) • 2 Parking Levels • 4 Residential Stories • Over $700,000 paid in just professional and city fees including architect, engineering, government fees • Planning: Approved • Public Hearing: Passed • Structural: Approved • Grading: Approved • Shoring: Approved • Fire Architectural: Approved • Building Architectural: Virtually Approved (only 2 simple annotative changes) • Market Rent $2641 (33x) – Using L.A. Section 8 Rental Amount (for certainty of a rental amount that can be obtained) • Restricted Rent $900 (3x) –Estimated HUD Amount • Gross Monthly Rent Estimate: $89,853 • Gross Annual Rent Estimate: $1,078,236 • Market Value as Built: 17.5M (Estimate 878K Net with 5% Cap) Transformer Scenario: Great News! DWP has given permission to use the smaller transformer (1200 amps instead of 1600), which allows the project to continue without a redesign because there is now enough space for the pad and its required space clearances.
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Listing courtesy of Bret Lewis, Broker

Amenities

  • Full baths
    0
  • Half baths
    0
  • Zip
    90248
  • Office name
    Bret Lewis, Broker
  • SQFT
    0
  • Bedrooms
    0
  • Zoning type
    LAC2
  • Year built
    0
  • Lot size
    20366.00
  • Sewer
    Public Sewer
  • Tax year
    0
  • Agent name
    Bret Lewis
  • Tax amount
    $ 0.0
  • Purchase Type
    Active
  • HOA fees
    $ 0.00
  • Price Range
    $2m+
  • Square Feet Range
    < 1000 sq ft.
  • Office ID
    PB16384
  • Agent ID
    PLEWIBRE

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