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

Welcome to the vibrant and dynamic Metropolitan South region of Los Angeles, California, where urban sophistication meets suburban charm. This diverse area is known for its eclectic neighborhoods, rich cultural heritage, and a plethora of amenities that cater to every lifestyle. From trendy eateries and boutique shops to lush parks and community centers, the Metropolitan South is a hub of activity and engagement.

One of the standout features of this region is its impressive selection of homes, particularly those boasting three or more levels. These multi-story residences offer a unique blend of spaciousness and privacy, making them perfect for families, professionals, and anyone seeking a little extra room to breathe. With soaring ceilings and thoughtfully designed layouts, these homes provide ample space for entertaining, working from home, or simply enjoying the California sun.

Residents of the Metropolitan South enjoy easy access to major highways and public transportation, making commuting a breeze. The area is also home to top-rated schools, vibrant community events, and a rich tapestry of cultural experiences, from art galleries to music festivals. Whether you're looking to explore the bustling streets of downtown Los Angeles or relax in the serene surroundings of nearby parks, this region offers the best of both worlds.

In Metropolitan South, you’re not just investing in a home; you’re embracing a lifestyle filled with opportunities, connections, and the quintessential Southern California experience. Discover your dream home today in this thriving Los Angeles community!

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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