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

Welcome to the vibrant heart of the Metropolitan South region, nestled in the bustling city of Los Angeles, California. This dynamic area, known for its diverse neighborhoods and rich cultural tapestry, offers a unique blend of urban sophistication and suburban charm. Whether you're drawn to the iconic palm-lined streets, the bustling arts scene, or the culinary delights that the city has to offer, Metropolitan South is a place where every day feels like an adventure.

One of the standout features of this region is its stunning architecture, particularly homes with three or more levels. These multi-story residences offer an abundance of space, perfect for families or those who love to entertain. Imagine waking up in a luxurious master suite on the top floor, with panoramic views of the city skyline or the serene hills. The open-concept living areas allow for seamless gatherings, while private balconies provide an ideal retreat for morning coffee or evening relaxation.

Metropolitan South is also conveniently located near major freeways and public transportation, making commuting a breeze. Explore nearby parks, trendy boutiques, and lively dining spots that reflect the eclectic nature of Los Angeles. With a variety of schools, cultural attractions, and recreational activities, this region caters to every lifestyle.

Whether you're searching for a modern townhome or a spacious family residence, Metropolitan South’s three or more level homes are designed to elevate your living experience. Discover the perfect blend of comfort, style, and convenience in one of California’s most sought-after locales. Your dream home awaits in the vibrant heart 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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