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

Welcome to the vibrant heart of the Metropolitan South region in Los Angeles County, California, where urban sophistication meets suburban charm. This diverse area is renowned for its eclectic neighborhoods, rich cultural tapestry, and a dynamic lifestyle that caters to residents of all ages. From bustling markets to serene parks, the Metropolitan South is a thriving hub that offers an abundance of amenities and attractions.

One of the standout features of this region is its impressive selection of homes, particularly those with three or more stories. These multi-level residences not only provide ample living space but also offer stunning views of the iconic Los Angeles skyline and surrounding landscapes. Imagine waking up to the sun rising over the city from your penthouse bedroom or hosting gatherings on your rooftop terrace, where you can soak in breathtaking sunsets with friends and family.

Homes in the Metropolitan South are designed to accommodate a modern lifestyle, featuring open floor plans, state-of-the-art kitchens, and luxurious finishes. Many properties boast outdoor spaces, perfect for entertaining or simply enjoying the California sunshine. Whether you’re seeking a contemporary townhouse or a spacious family home, you'll find a variety of architectural styles that reflect the unique character of Los Angeles.

Living in Metropolitan South means being at the center of it all. With easy access to major highways, public transportation, and a plethora of shopping, dining, and entertainment options, you’ll never run out of things to do. Embrace the vibrant lifestyle that awaits you in this dynamic region, where your dream home is just waiting to be discovered!

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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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.