Figueroa Apartments will entail the rehabilitation of a building in South Los Angeles that was originally built in 1926. It is located along a major public transportation corridor and is in close proximity to several retail and restaurant locations, as well as Downtown Los Angeles and the University of Southern California. The two-story building is 9,708 square feet and has 20 units. It has fallen into significant disrepair and most major systems are failing. Under the previous owner, the building was in the Los Angeles Housing Department’s REAP program, which monitors buildings with code violations. The scope of work includes installation of a new roof, upgrades to the building’s facade, repairs to the sewer line, installation of a new HVAC system, and extensive finish work to the interior of all units. The developers will also convert one of the apartment units into on-site case management space and a convenient laundry room for tenants. The total development cost is $4 million.
19 units (16 studio units, 2 one-bedroom units, 1 one-bedroom manager’s unit)
Low-income families (Less than 30% AMI).
Predevelopment / Acquisition
Construction / Permanent