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209 N Mathews St - RTI 22-Unit Multifamily Development 0.2 Acres of Commercial Land Offered at $2,396,728 CAD in Los Angeles, CA 90033
Investment Highlights
- RTI Infill Multifamily Development Opportunity in Boyle Heights: 8,846-SF lot zoned LAR3 with plans to build 22 units, 3 of which are designated LI
- Strong Rental Location Near Downtown Los Angeles: Two blocks from the Metro E line and proximate to freeways, employers and attractions
- Plans Call for All Wood Construction: Lower construction costs compared to steel construction
- Plans Envision a 22-Unit Apartment Building: Mix of nine one-bedroom and 13 two-bedroom units as well as a rooftop common area
- Surrounded by Numerous Multifamily Developments: Recent and ongoing investment in the area signals strong demand and investor sentiment
Executive Summary
Marcus & Millichap is pleased to present to market 209 North Mathews Street, a 22-unit RTI infill multifamily development opportunity in Los Angeles’ Boyle Heights. This is an outstanding opportunity to acquire an asset with approved plans in one of Los Angeles’ most active infill development markets.
Situated on an 8,846-square-foot LAR3-zoned lot, the property comes with approved plans for a 22-unit apartment building featuring nine one-bedroom units, 13 two-bedroom units, balconies for select units, and a rooftop common area with skyline views designed to enhance renter appeal. Three of the units are designated low income. Construction plans call for all wood construction, lessening construction costs compared to steel construction. Plans also call for storage space which could potentially be converted to four ADUs.
Located just around the corner from the Metro E Line, the site offers residents convenient access to Downtown Los Angeles, major employment centers, and area attractions. Its transit-oriented location is increasingly attractive to renters seeking connectivity and affordability. Further enhancing the site’s walkability, a major grocery store is just two blocks away.
Situated on an 8,846-square-foot LAR3-zoned lot, the property comes with approved plans for a 22-unit apartment building featuring nine one-bedroom units, 13 two-bedroom units, balconies for select units, and a rooftop common area with skyline views designed to enhance renter appeal. Three of the units are designated low income. Construction plans call for all wood construction, lessening construction costs compared to steel construction. Plans also call for storage space which could potentially be converted to four ADUs.
Located just around the corner from the Metro E Line, the site offers residents convenient access to Downtown Los Angeles, major employment centers, and area attractions. Its transit-oriented location is increasingly attractive to renters seeking connectivity and affordability. Further enhancing the site’s walkability, a major grocery store is just two blocks away.
Property Facts
| Price | $2,396,728 CAD | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Condition | Redevelopment Project | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 0.21 AC |
| Zoning | LAR3 - TOC Tier 4 | ||
| Price | $2,396,728 CAD |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 0.21 AC |
| Zoning | LAR3 - TOC Tier 4 |
1 Lot Available
Lot
| Price | $2,396,728 CAD | Lot Size | 0.20 AC |
| Price Per AC | $11,802,123.24 CAD |
| Price | $2,396,728 CAD |
| Price Per AC | $11,802,123.24 CAD |
| Lot Size | 0.20 AC |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5180-002-005 | Improvements Assessment | $454,533 CAD |
| Land Assessment | $946,945 CAD | Total Assessment | $1,401,478 CAD |
Property Taxes
Parcel Number
5180-002-005
Land Assessment
$946,945 CAD
Improvements Assessment
$454,533 CAD
Total Assessment
$1,401,478 CAD
Contacts
-
Steve Bogoyevac -
Kevyn Calleja -
Parham Khoshbakhtian -
David O'Keefe -
Marcus & Millichap
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209 N Mathews St - RTI 22-Unit Multifamily Development
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