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

Welcome to the vibrant Metropolitan South region of Los Angeles, California, a dynamic hub where urban sophistication meets suburban charm. Nestled within the sprawling cityscape, this area is renowned for its eclectic neighborhoods, diverse culture, and a rich tapestry of experiences that cater to every lifestyle.

As you explore the homes in Metropolitan South, you'll discover a unique architectural landscape, particularly characterized by properties boasting three or more levels. These multi-story homes offer not just ample living space but also a sense of grandeur and privacy that is hard to find in other housing options. With expansive layouts, these residences are perfect for families seeking room to grow or professionals looking for a stylish work-from-home environment.

Imagine waking up in a sun-drenched master suite on the upper level, enjoying breathtaking views of the city skyline or the serene hills that surround Los Angeles. Each floor can offer distinct living experiences, from cozy family rooms to entertaining spaces that seamlessly blend indoor and outdoor living.

Metropolitan South is also a stone's throw away from some of LA’s finest attractions, including world-class dining, shopping, and entertainment options. Whether you’re strolling through vibrant markets, enjoying the local art scene, or unwinding in one of the area’s beautiful parks, there’s always something to engage your senses.

With its unique homes and lively community, Metropolitan South is not just a place to live, but a lifestyle to embrace. Explore the possibilities of multi-story living in this iconic region and discover your dream home today!

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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