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—an area where urban sophistication meets suburban charm. Known for its diverse neighborhoods and rich cultural tapestry, this part of LA offers residents an unparalleled lifestyle filled with amenities, entertainment, and community spirit.

The Metropolitan South region is a dynamic hub that boasts a mix of residential options, including stunning homes with three or more levels. These multi-story residences are perfect for families or anyone looking for spacious living. Imagine waking up in a beautifully designed home with panoramic views of the city skyline, where each level offers its own unique living space—from cozy family rooms to expansive entertainment areas. The open floor plans and abundant natural light create an inviting atmosphere, making these homes ideal for both relaxation and social gatherings.

Beyond the stunning architecture, the Metropolitan South region is surrounded by an array of attractions. Enjoy a leisurely stroll through local parks, indulge in the diverse culinary scene, or explore the nearby cultural landmarks that make Los Angeles so unique. With easy access to major highways and public transportation, commuting to downtown LA or the beach is a breeze.

Living in the Metropolitan South means embracing a lifestyle filled with opportunities, whether you're seeking the hustle and bustle of city life or the tranquility of suburban living. Discover your dream home in this enchanting region, where every day feels like a new adventure!

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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