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 suburban charm! Nestled in the heart of LA County, this dynamic area is a tapestry of diverse neighborhoods, each offering a unique blend of culture, entertainment, and lifestyle. The Metropolitan South region is known for its rich history, bustling arts scene, and a plethora of dining options that reflect the city’s multicultural heritage.

One of the standout features of this area is its impressive selection of homes, particularly those with three or more stories. These multi-level residences are perfect for families seeking ample space and versatility. Imagine waking up in a sun-drenched master suite, enjoying your morning coffee on a private balcony, and then heading down to the expansive living areas designed for both relaxation and entertaining. With three or more levels, these homes offer an abundance of room for creativity, from dedicated home offices to playrooms or guest suites.

The Metropolitan South region is also conveniently located near major freeways, making commuting a breeze, while still providing easy access to parks, schools, and recreational facilities. Whether you’re exploring the vibrant local markets, enjoying a weekend at the nearby beaches, or immersing yourself in the local arts and music scene, this area truly has something for everyone.

If you’re looking for a home that embodies the essence of Los Angeles living with the added benefit of spacious, multi-level designs, the Metropolitan South region is the perfect place to call home. Discover the possibilities that await you in this exciting part of Los Angeles!

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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