9413 S Main St., Los Angeles, CA 90003
INVESTMENT OVERVIEW
This 19,110 SF CM-1-CPIO zoned site will be delivered with Ready-to-Issue (RTI) permits for a 5-story, 145-unit multifamily development located in the high-demand South Los Angeles submarket. The approved plans include a compact and efficient unit mix of 91 studios and 54 one-bedroom units, optimized for high density, affordability, and long-term tenant demand.
Located in the 90003 ZIP code just south of Downtown Los Angeles, the site benefits from its position along the well-traveled Main Street corridor and designation as a TOC Tier 1 transit-oriented site. With excellent access to Metro bus lines, the 110 Freeway, USC, Exposition Park, and nearby job centers, this location offers strong fundamentals for both lease-up and long-term operation.
The project is fully entitled and RTI-approved, enabling developers to bypass the traditional 12–24 month entitlement process and begin construction immediately — a rare advantage in a market defined by regulatory hurdles and construction delays.
Designed with a focus on operational efficiency and low vacancy risk, the project also aligns with Los Angeles’ broader affordable housing strategy, making it particularly well-suited for voucher-based lease-up, income-restricted programs, or ESG/impact-driven portfolios.
As the City continues to incentivize dense infill development through Executive Directive 1 (ED1) and TOC density bonuses, 9413 S Main St. presents a shovel-ready, high-yield opportunity in one of LA’s most underbuilt housing corridors. With scale, speed-to-market, and proximity to key infrastructure, this asset offers investors a powerful combination of resilience, upside, and purpose-driven growth.
9413 S Main St.
Project Overview
| Project Information | |
|---|---|
| Gross Building Area | 63525 SF |
| Build-able Units | 145 Unit 54 (1-Bedroom) | 91 (STUDIOS) |
| Stories | 5 |
| Net Rentable | 58945 SF |
| Average Unit Size | 270 - 350 |
| Lot Size | 19110 SF |
| Legal Description | |
| Site Address | 9413 S Main St., Los Angeles, CA 90003 |
| Zoning | CM-1-CPIO | Tier 1 |
| APN | 6053007024 |
9413 S Main St.
Price Analysis
Gross building area
63,525 SF
Build-able Units
145
STORIES
5 FLOORS
LOT SIZE
19,110 SF
NET RENTABLE AREA
58,945 SF
| COST SUMMARY | |
|---|---|
| Acquisition Costs: | $3,600,000.00 |
| Operating Expenses at 5% of Acquisition | $180,000.00 |
| Construction Costs: | $19,500,000.00 |
| Total Development Costs | $23,280,000.00 |
| Plan #1 : DISPOSITION | ||
|---|---|---|
| Projected Property Value: | $43,124,843.08 | |
| Disposition Cap Rate: | 6.50% | |
| Sales Proceeds at Disposition: | ||
| Projected Sale Value: | $ 43,124,843.08 | |
| Broker Commission: at 6.0% of Sale Price | $ 2,587,490.58 | |
| Closing Cost: at 0.5% of Sale Price | $ 215,624.22 | |
| Net Sale Proceed | $ 40,321,728.28 | |
| less: Project Cost | $ 23,280,000.00 | |
| Net Profit | $ 17,041,728.28 | |
| ROI | 73.20% | |
| PLAN #2: HOLD | |
|---|---|
| OPERATING PERFORMANCE | |
| Scheduled Lease Revenue | $ 3,671,640.00 |
| less: Manager Unit | $ 24,048.00 |
| less: Vacancies & Bad Debt at 3.00 % | $ 110,149.20 |
| less: Operating Expenses | $ 734,328.00 |
| Total | $ 868,525.20 |
| Residential Cash Flow | $ 2,803,114.80 |
| Net Operating Income | $ 2,803,114.80 |
| Cap Rate on Total Cost | 12.04% |
9413 S Main St.
Project Plans
Florence, South Los Angeles
Neighborhood
9413 S Main St. is located in South Los Angeles, a centrally positioned submarket with strong connectivity to major employment hubs. The property benefits from close proximity to I-110 (Harbor Freeway) and I-105 (Century Freeway), providing efficient access to Downtown Los Angeles, South Bay, Inglewood, and LAX. Public transportation is readily available, including nearby Metro bus lines and Metro A (Blue) Line stations, supporting tenant mobility and reducing reliance on personal vehicles. This accessibility enhances rental demand among workforce and transit-dependent tenants.
The surrounding area is characterized by a dense, renter-oriented population with a strong base of working-class households. The neighborhood has a relatively young demographic profile, with a consistent demand for affordable and mid-market rental housing. Household sizes tend to be larger than the Los Angeles average, supporting demand for multi-bedroom units. The area has historically demonstrated stable occupancy rates, making it attractive for long-term income-focused investors.
Housing in the immediate area is predominantly multi-family properties, duplexes, and small apartment buildings, with limited new supply due to zoning and infill constraints. Homeownership rates are lower than the citywide average, reinforcing a robust rental market. Many properties date back several decades, creating opportunities for value-add strategies through renovations, unit upgrades, and operational improvements. Rent growth potential exists as surrounding neighborhoods experience gradual reinvestment and infrastructure improvements.
The neighborhood offers a practical, community-oriented lifestyle centered around local businesses, neighborhood retail corridors, and everyday services. Residents benefit from proximity to employment centers in Downtown LA, Vernon, and South LA industrial corridors. While not a luxury lifestyle market, the area appeals strongly to tenants seeking affordable housing with convenient access to jobs and transit, which supports consistent rental demand.
The property falls within the Los Angeles Unified School District (LAUSD). The area is served by multiple public elementary, middle, and high schools, along with access to charter and magnet school options throughout South Los Angeles. While school performance varies, the presence of multiple educational options contributes to neighborhood stability and long-term residency for family households.
Nearby amenities include local shopping centers, grocery stores, restaurants, medical clinics, and neighborhood parks. Residents have access to essential services within a short distance, and larger retail and entertainment options are available within a short drive toward Downtown Los Angeles, Inglewood, and South Bay communities. Ongoing public and private investment in South LA continues to enhance neighborhood infrastructure and amenities, supporting future appreciation potential.
