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

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

Welcome to the vibrant and diverse Metropolitan South region of Los Angeles County, California—an area that beautifully blends urban sophistication with a rich cultural tapestry. Nestled in the heart of Los Angeles, this dynamic neighborhood is known for its eclectic mix of residential styles, bustling commercial districts, and access to some of the city's most iconic attractions.

One of the standout features of the homes in Metropolitan South is the availability of properties with three or more levels. These multi-story homes offer a unique living experience, providing ample space for families and individuals alike. Imagine waking up in a spacious master suite on the upper level, with breathtaking views of the sprawling cityscape below. The additional floors allow for versatile living arrangements, whether you need a dedicated home office, a guest suite, or a playroom for the kids.

Metropolitan South is not just about the homes; it’s about the lifestyle. Residents enjoy easy access to a plethora of amenities, including trendy cafes, gourmet restaurants, and vibrant shopping districts. The region is also well-connected through public transportation, making it a breeze to explore the rest of Los Angeles and beyond.

With its unique architectural offerings and a community that celebrates diversity, Metropolitan South is a fantastic place to call home. Whether you’re a first-time buyer or looking to invest in a multi-story property, this region promises a lifestyle filled with excitement and opportunity. Come discover the charm of Metropolitan South—your dream home awaits!

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
Start Your Search

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.