Executive Summary


  • The Neema Group is pleased to present an affordable housing development opportunity at 4269 S Hoover St, just south of Downtown Los Angeles, the University of Southern California, and Exposition Park; the 9,324 SF lot can be delivered RTI for 89 income-restricted units and 1 manager unit; the project is located between W 42nd Pl and W 43rd St, just 1.4 miles south of USC
  • The project is offered at a low $38,889 per buildable unit; there is currently a 6-unit apartment building existing that will be delivered vacant at the close of escrow
  • Plans call for 57 singles (324 SF), 30 one-bedroom units (352-378 SF), and six two-bedroom units (560 SF) with no parking required; the seven-story building totals 42,814 SF, five stories of type 111A over two stories of type 1A construction
  • Located in a dense, infill location of South Los Angeles with an easy commute to Downtown Leimert Park, and Mid-City; high walk score of 84 and walking distance to multiple Metro local lines on Figueroa St, Vernon Ave, and Vermont Ave, and the Metro E rail line; easy access to the 110 Freeway via W Martin Luther King Jr Blvd and W Vernon Ave
  • The subject property is walking distance to retail amenities along S Figueroa St and S Vermont Ave; two blocks north of Marguerite Poindexter LaMotte Elementary School and just east of Manual Arts Sr High School
  • Building amenities include a laundry room, bike parking and a 2,830 SF Roof Deck with views of Downtown LA to the north-east

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