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

Welcome to the vibrant heart of the Metropolitan South region in Los Angeles, California, where urban sophistication meets suburban charm. This dynamic area is known for its eclectic neighborhoods, rich cultural diversity, and an array of amenities that cater to every lifestyle. Whether you’re drawn to the bustling streets of Downtown LA or the serene parks of the surrounding communities, Metropolitan South offers something for everyone.

One of the standout features of this region is its stunning homes, particularly those with three or more levels. These multi-story residences provide an abundance of space, perfect for families seeking room to grow or professionals desiring a stylish home office. With innovative architectural designs and modern finishes, these homes seamlessly blend comfort and elegance. Imagine waking up to breathtaking views of the city from your top-floor master suite or entertaining guests in a spacious rooftop lounge.

Metropolitan South is not just about beautiful homes; it’s also about lifestyle. The area boasts a plethora of dining options, from trendy cafes to gourmet restaurants, as well as vibrant nightlife, shopping districts, and cultural landmarks. Families will appreciate the proximity to top-rated schools and parks, while outdoor enthusiasts can take advantage of nearby hiking trails and recreational areas.

Investing in a home with three or more levels in Metropolitan South means embracing a lifestyle that is as dynamic as the city itself. Experience the best of Los Angeles living in a community that truly has it all. Discover your dream home today in this thriving urban oasis!

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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