Metropolitan South (C37) Homes with Three Or More Levels Stories

Welcome to the vibrant Metropolitan South region of Los Angeles, California, where urban sophistication meets a laid-back Southern California lifestyle. This dynamic area is a treasure trove of culture, entertainment, and community, making it an ideal destination for homebuyers seeking a unique blend of city living and suburban charm.

Metropolitan South is characterized by its diverse neighborhoods, each offering its own distinct flavor. From trendy cafes and boutique shops to sprawling parks and cultural landmarks, this region is alive with opportunities for exploration and enjoyment. Imagine weekend strolls through local farmer's markets, afternoons spent at art galleries, or evenings enjoying live music at nearby venues. With the iconic Los Angeles skyline as your backdrop, every day feels like an adventure.

For those in search of spacious living, homes with three or more stories are a notable feature of this area. These multi-level residences not only provide ample space for families or individuals seeking room to grow but also offer stunning views of the city and surrounding landscapes. Whether you prefer a modern townhouse with sleek finishes or a charming craftsman-style home brimming with character, you'll find an array of options that cater to your lifestyle.

Living in Metropolitan South means being at the heart of it all—close to major freeways, public transportation, and a wealth of dining and entertainment choices. Embrace the Los Angeles lifestyle in a home that reflects your aspirations and offers the perfect balance of comfort and convenience. Discover your dream residence in this exciting region today!

Newest Metropolitan South (C37) Homes with Three Or More Levels Stories

$2,800,000

12 Beds ⋅ 12 Baths ⋅ 26843201 MLS ⋅ Active Status

We are pleased to present 142 East 84th Street, a brandnew,12-unit 100% affordable multifamily asset located in South Los Angeles, offered at $2,800,000 ($233,333/unit | $475/SF). Being brought out to market vacant, the property consists entirely of one-bedroom/one-bath units across three stories on a 5,199 SF lot and requires no deferred maintenance or capital investment. The asset is subject to a recorded Rental Covenant Agreement Running with the Land administered by the Los Angeles Housing Department under the City's TOC Tier 2 Affordable Housing Incentive Program, restricting all 12 units as deed-restricted affordable for a 55-yearterm from Certificate of Occupancy. The covenant structure functions a s along-term, government-supported income guarantee, delivering a current caprate of 7.69% and NOI of $215,402, with a pro forma cap rate of 8.45% and NOI of $236,651 as rents adjust to prevailing AMI levels. The covenant is fully assumable and transferable, with a straightforward LAHD assignment process required at close of escrow. The property is ideally situated within the 90003 zip code of South Los Angeles, a densely populated and fundamentally supply-constrained submarket. With over64,000 residents within one mile, an average household size of 3.6 persons, and a renter-occupied housing rate exceeding 74% within a three-mile radius, the submarket presents persistent and deep demand for quality affordable housing. The surrounding area benefits from proximity to major employment centers including SpaceX, Nike, LADWP, Charles R. Drew University of Medicine, and the broader LA Metro network, driving a stable and consistent renter base across economic cycles. Median household income within one mile is approximately$51,000; well within the qualifying thresholds for Low Income restricted tenancy and further supporting strong occupancy fundamentals. For impact investors, CDFIs, affordable housing operators, and mission-aligned capital seeking predictable, low-volatility income with 55-year hold certainty, 142 East 84th Street represents a rare, turnkey opportunity into Los Angeles's regulated affordable housing market at a competitive basis relative to comparable new-construction product trading in the immediate submarket.

142 E 84th Street, Los Angeles

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.