843 W 82nd St
Affordable Housing Opportunity | Low Price per Buildable Unit | Cost-Efficient Design
Marketing description
• Fully Entitled Affordable Housing Development Opportunity – The property is fully entitled for 87 income-restricted units plus one manager's unit, allowing developers to move directly toward construction without additional entitlement risk.
• Vacant Site at Close of Escrow – The existing duplex will be delivered vacant, eliminating tenant relocation concerns and enabling immediate project commencement upon acquisition.
• No Parking Requirement Maximizes Development Efficiency – The project benefits from a zero-parking requirement, allowing for greater unit density while reducing construction costs and improving overall project economics.
• Cost-Efficient Type III Construction Design – Planned as a five-story Type III building with a fully stacked layout, the project is optimized for construction efficiency and reduced development costs.
• Attractive Basis with Strong Return Potential – With a low cost per buildable unit, the project offers private developers the opportunity to achieve compelling returns without relying on tax credits, public subsidies, or complex financing structures.
• Mission-Driven Financing Opportunities – The affordable housing component may qualify for financing through Community Development Financial Institutions (CDFIs) and other specialized lenders focused on workforce and affordable housing initiatives.
• Strategic South Los Angeles Location – Positioned near major employment centers including Downtown Los Angeles, Vernon, and Huntington Park, the project is well situated to serve residents seeking convenient access to jobs and services.
• Ideal for Voucher and Supportive Housing Programs – The property's location and affordability profile make it well suited for lease-up strategies involving Section 8, PATH, LAHSA, and other housing assistance programs.
• Efficient Unit Mix Designed for Rental Demand – The proposed development includes 4 studio units, 79 one-bedroom units, and 5 two-bedroom units, creating a housing product tailored to the area's workforce and affordable housing needs.
• Excellent Transit Connectivity and Walkability – With a Walk Score of 90, residents will enjoy convenient access to the Metro B and D Rail Lines, multiple Metro bus routes, and direct connections to Downtown Los Angeles, Hollywood, Echo Park, Westlake, and surrounding neighborhoods.
• Rare Opportunity to Lock in Density Today – The fully approved plans allow investors to move forward under current regulations, reducing exposure to future legislative or zoning changes that could limit similar high-density affordable housing developments.
Investment highlights
The Ben Lee Group is proud to present an affordable housing development opportunity at 843 W 82nd St in South Los Angeles. This 9,301 SF lot comes fully entitled for 87 income-restricted units plus one manager’s unit, with no parking requirement. The central location offers proximity to employment hubs like Downtown LA, Vernon, and Huntington Park, making it an attractive choice for lease-up strategies such as PATH, LAHSA, or Section 8.
The planned five-story project features Type III construction, optimizing for cost efficiency with a fully stacked design. The current duplex on the site will be vacant at escrow, enabling immediate construction without the need for further planning approvals or exposure to risks from future ordinances that might restrict similar high-density projects.
The project spans 48,123 SF and offers a balanced unit mix: 4 studios, 79 one-bedrooms, and 5 two-bedroom units. With a low price per buildable unit, it provides a privately fundeddeveloper a chance for a strong return on cost without relying on tax credits or subsidies. Additionally, the affordability factor opens options for mission-driven financing through CDFIs or specialized lenders.
With a Walk Score of 90, the property is within walking distance of the Metro B & D Rail Lines and multiple Metro Local Lines, providing easy access to areas like Westlake, Hollywood, Echo Park, and Downtown LA.
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