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

Welcome to the vibrant Metropolitan South region of Los Angeles, California—a captivating blend of urban sophistication and suburban charm. This dynamic area is known for its diverse neighborhoods, rich cultural tapestry, and an array of lifestyle amenities that cater to all. With its proximity to downtown Los Angeles, residents enjoy easy access to world-class dining, shopping, and entertainment, while also having the option to retreat to quieter, family-friendly communities.

One of the standout features of Metropolitan South is the impressive selection of homes that boast three or more levels. These multi-story residences are perfect for families or those who appreciate spacious living. With ample square footage, these homes offer an abundance of natural light and stunning views of the city skyline or nearby hills. The architectural diversity ranges from modern townhomes to elegant traditional styles, ensuring that there’s something for everyone.

Living in a multi-level home allows for creative use of space—imagine having a dedicated floor for entertaining, a cozy family room, or a quiet home office. Many of these homes also come equipped with luxurious amenities such as rooftop terraces, private balconies, and expansive outdoor spaces that are perfect for enjoying California’s year-round sunshine.

As you explore the Metropolitan South region, you’ll discover a community rich in parks, schools, and recreational opportunities. Whether you’re taking a stroll through a nearby park or attending a local event, you’ll find that this area fosters a strong sense of community. Discover your dream home in Metropolitan South, where urban living meets a welcoming neighborhood atmosphere!

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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