Property Details


Units: 35
Price / Unit: $ 50,743
Lot Size: 6,021 SF
Unit Mix: 10 Singles, 25 One-Bedrooms

Executive Summary


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The Neema Group is pleased to present an affordable housing development opportunity at 5436 S Broadway, a corner lot in in the South Park neighborhood of Los Angeles. The 6,021 SF lot will be delivered fully entitled for 34 income-restricted housing units and 1 manager unit with no parking required. 

 

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The project’s central infill location and proximity to major employment hubs such as Downtown LA, Vernon, Commerce, and Huntington Park support multiple lease-up strategies including filling units through PATH, LAHSA or Section 8. 

 

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Plans call for an efficient four-story project, utilizing Type V-A construction for a stacked design reducing construction costs for the developer. The existing structures will be delivered vacant at the close of escrow, allowing a developer to break ground immediately, without navigating the planning process or taking on additional risk through pending ordinances that are limiting the development of similar high density affordable projects. 

 

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The finished project totals 16,358 SF and has a desirable unit mix of 10 singles (255- 315 SF) and 25 one-bedrooms (300-430 SF). 

 

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The project is offered at a low price per buildable unit, allowing a privately funded developer the opportunity to develop a high yielding project and capture a strong return on cost with zero tax credits or government subsidies. In addition, the affordability of the project opens avenues of mission driven financing through CDFIs or mission driven lenders (contact agent for details). 

 

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Located in a dense location of South Los Angeles with an easy commute throughout the city with access to the 110 Freeway; walking distance to multiple Metro local lines along S Broadway. 

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