RTI 22-Unit Multifamily Development Opportunity — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Commercial Land
  • Location: Los Angeles, CA 90033

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Description

Marcus & Millichap is pleased to present to market 209 North Mathews Street, a 22-unit RTI infill multifamily development opportunity in Los Angeles’ Boyle Heights. This is an outstanding opportunity to acquire an asset with approved plans in one of Los Angeles’ most active infill development markets. Situated on an 8,846-square-foot LAR3-zoned lot, the property comes with approved plans for a 22-unit apartment building featuring nine one-bedroom units, 13 two-bedroom units, balconies for select units, and a rooftop common area with skyline views designed to enhance renter appeal. Three of the units are designated low income. Construction plans call for all wood construction, lessening construction costs compared to steel construction. Plans also call for storage space which could potentially be converted to four ADUs. Located just around the corner from the Metro E Line, the site offers residents convenient access to Downtown Los Angeles, major employment centers, and area attractions. Its transit-oriented location is increasingly attractive to renters seeking connectivity and affordability. Further enhancing the site’s walkability, a major grocery store is just two blocks away. Investment Highlights: • RTI Infill Multifamily Development Opportunity in Boyle Heights: 8,846-Square foot lot zoned LAR3 with plans to build 22 units, three of which are designated low income • Plans Envision a 22-Unit Apartment Building: Project plans showcase a four-story building with a mix of nine one-bedroom and 13 two-bedroom units as well as a rooftop common area • Strong Rental Location Near Downtown Los Angeles: Subject property is two blocks from the Metro E line and offers convenient freeway access and proximity to area attractions and employers • Surrounded by Numerous Multifamily Developments: Recent and ongoing investment in the area signals strong tenant demand and investor sentiment in Boyle Heights • Plans Call for All Wood Construction: Lower construction costs compared

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