New

$2,800,000

For Sale

3 hours ago

142 E 84Th St, Los Angeles, CA

Name: 142 E 84Th St, For Sale in Los Angeles - eXp Realty
Brand: Marcus & Millichap
SKU: 26843201
Price: 2800000 USD

House

MLS® 26843201

12 Bed

12 Bath

5890 sqft

5 Parking

Key Facts
Description
Map

Key Facts

Type

Levels Residential Income

Size 5890 sqft

Garage

Taxes

Days Active 0

Lot Size

Approx. Age 2026

Avg. Price Per Sqft $475

MLS® Number 26843201

Property Address: 142 E 84th St, Los Angeles, CA, 90003-2912

Average square foot calculated using Size range provided by listing agent.

Description

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.

MLS® Number26843201

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age2026

Basement

DrivewayUncovered

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Jun 4, 2026List Date

$2,800,000List Price

Commute

Commute

Starting Address

Destination Address

Like what you see?

Complete the form and we'll be in touch. No login necessary.

Add a Comment

I want to view this property

By pressing "Take a Tour", I confirm that I have read and agree to the eXp Privacy Policy, and Terms of Use.

By pressing "Take a Tour", I am electronically signing and consenting to receive marketing comms about real estate brokerage and mortgage lending services, delivered via email, phone and/or text (using "automated technology" such as an automatic telephone dialing system, and/or an artificial or prerecorded voice), from eXp Realty® and its independent contractor real estate professionals and their affiliate SUCCESS® Lending using the contact information I provided. Your consent is not a condition of purchase and you may revoke it at any time by replying "STOP" to any texts. Text HELP for more info. Message and data rates may apply. You may also contact us directly at 1-844-683-4664.

Similar Listings

Comparable Properties

Explore eXp Find an Agent Join eXp Investor Relations Company Careers Home Guides

eXp Life Zoocasa SUCCESS®SUCCESS® Lending eXp Revenos eXp Commercial eXp Luxury eXp Land and Ranch Accessibility

Terms and Conditions Privacy Rights Request Privacy Policy Cookie Policy Brand Guidelines Help Sitemap

2219 Rimland Drive, Suite 301, Bellingham, Washington, 98226

1 833-303-0610

[email protected]

eXp REALTY

DMCA Notice

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply

Fair Housing and Reasonable Accommodations

MLS Compliance Statements

Karen Richards - Designated Managing Broker, Broker Operations - TX

Texas Real Estate Commission information about brokerage services

Texas Real Estate Commission Consumer Protection Notice

eXp Realty® is committed to adhering to the guidelines of The New York State Fair Housing Regulations.The Fair Housing Notice →

*Standardized Operating Procedure for Purchasers of Real Estate Pursuant to Real Property Law 442-H.Learn More →

eXp Realty of California, Inc. | CA DRE# 01878277 | Deborah Penny - Designated Broker

eXp Realty of Southern California, Inc. | CA DRE#01325837 | Jason Crawford – Designated Broker

eXp Realty of Greater Los Angeles, Inc. | CA DRE# 01240990 | Mike Mendibles - Designated Broker

eXp Realty of Northern California, Inc. | CA DRE# 01951343 | Ryan Rosas - Designated Broker