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632 E Washington Blvd
Los Angeles, CA 90015
RTI Affordable Housing Development Site · Land For Sale
·
0.22 AC
Investment Highlights
- Streamlined project timeline with RTI status
- Located in HACLA Tier 8 zone, offering strong voucher-backed rent support
- Proven support for affordable housing initiatives from the City of Los Angeles
- Fully entitled affordable housing—ideal for LIHTC or other public-private funding programs
- Strong rental demand and continued growth in the immediate area
Executive Summary
• Total Units: 71
• Stories: 5
• Land Area: ±9,626 SF
• Current Use: Auto body shop (to be delivered vacant and demolished)
• Zoning: Entitled for affordable housing use
• Delivery: Vacant, RTI permits in hand
Located in the 90015 zip code, this property qualifies under Tier 8 of HACLA’s voucher payment standards, offering a strong rent floor and enhancing the financial feasibility of affordable housing operations in this location.
Opportunity to incorporate high-visibility signage or branding elements along Washington Blvd, enhancing long-term asset value.
Property Facts
| Sale Type | Investment | Proposed Use | Apartment Units |
| Sale Condition | Redevelopment Project | Total Lot Size | 0.22 AC |
| No. Lots | 1 | No. Stories | 1 |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Commercial | ||
| Zoning | LAM1 | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.22 AC |
| No. Stories | 1 |
| Opportunity Zone |
Yes |
| Zoning | LAM1 |
1 Lot Available
Lot
| Price | $4,203,976 CAD | Lot Size | 0.22 AC |
| Price Per AC | $19,023,978.65 CAD |
| Price | $4,203,976 CAD |
| Price Per AC | $19,023,978.65 CAD |
| Lot Size | 0.22 AC |
±0.22-acre flat development site with Washington Blvd frontage, delivered RTI for affordable housing. Located in a HACLA Tier 8 zone, offering strong rental support and immediate development potential in a rapidly improving DTLA-adjacent corridor.
Description
632 E Washington Blvd presents a rare opportunity to acquire a fully entitled (RTI) affordable housing development site in a rapidly evolving DTLA-adjacent corridor. Positioned just minutes from Downtown Los Angeles and the Fashion District, the property offers immediate access to major employment centers, transit, and key freeway infrastructure including the 10 and 110. The project is delivered Ready-To-Issue (RTI), allowing a developer to bypass the entitlement process and proceed directly to construction—significantly reducing timeline and carrying costs. Located within a HACLA Tier 8 zone, the site benefits from strong voucher-backed rent support, creating a highly attractive opportunity for LIHTC and other public-private financing strategies. Surrounded by ongoing multifamily and mixed-use development, the area continues to experience increased investment and tenant demand, positioning the project for long-term stability and growth. This offering is ideally suited for developers seeking a low-risk, financeable, and immediately executable affordable housing project in one of Los Angeles’ most active infill markets.
Property Taxes
| Parcel Number | 5127-004-032 | Improvements Assessment | $523,428 CAD |
| Land Assessment | $1,207,922 CAD | Total Assessment | $1,731,350 CAD |
Property Taxes
