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

Welcome to the vibrant heart of the Metropolitan South region of Los Angeles County, where urban sophistication meets suburban charm. This dynamic area is renowned for its diverse neighborhoods, rich cultural tapestry, and an array of amenities that cater to every lifestyle. Whether you are drawn to the bustling energy of downtown Los Angeles or the serene enclaves of the surrounding communities, the Metropolitan South region offers something for everyone.

One of the standout features of this area is its unique architectural landscape, particularly homes with three or more stories. These multi-level residences provide an abundance of living space, ideal for families or those who love to entertain. Imagine hosting gatherings on a spacious rooftop deck, enjoying panoramic views of the city skyline, or retreating to a private master suite on the top floor for a peaceful night’s rest. The elevated designs not only maximize living space but also offer a sense of grandeur and sophistication.

In addition to stunning homes, Metropolitan South boasts a wealth of recreational opportunities. From lush parks and scenic hiking trails to trendy restaurants and vibrant nightlife, this region is a hub of activity. It’s also well-connected, with easy access to major freeways and public transportation, making commuting a breeze.

Whether you’re a first-time homebuyer or looking to invest in a luxurious property, the Metropolitan South region of Los Angeles County invites you to explore its diverse offerings. Discover the perfect multi-level home that suits your lifestyle and experience the best that Southern California has to offer!

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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