3756 Santa Rosalia Dr., Los Angeles, CA 90008
INVESTMENT OVERVIEW
This ±65,546 SF development site presents a rare dual-value investment opportunity: a fully RTI-approved multifamily project for 269 residential units alongside an existing ±80,000 SF medical office building generating in-place income.
Approved plans call for a 6-story residential structure with 80 studios and 189 one-bedrooms, designed for maximum density and operational efficiency. Unit sizes range from approximately 300–443 SF, aligning with high-demand workforce and affordable housing strategies. The efficient layout, combined with flexible leasing potential, positions the residential component for a variety of funding models—including LIHTC, ED1, voucher-based, or market-rate.
Located in the heart of the 90008 ZIP code, near Leimert Park, Baldwin Hills, and the Crenshaw Corridor, this asset sits at the intersection of urban revitalization and long-term demographic growth.
With close access to the Metro K Line, Baldwin Hills Crenshaw Mall redevelopment, Culver City, and Downtown LA, the site benefits from excellent regional connectivity and is well-positioned to serve LA’s growing renter base.
The existing medical office structure allows for cash-flow generation during predevelopment or phased construction, giving investors a hedge against holding costs and interest rate risk. Additionally, its strategic location near healthcare facilities and underserved communities offers long-term repositioning or adaptive reuse potential.
The TOC Tier 3 designation, coupled with an RTI permit in hand, provides entitlement certainty, speed to market, and access to public and private capital—making this project especially attractive in today’s constrained pipeline.
3756 Santa Rosalia Dr
Project Overview
| Project Information | |
|---|---|
| Gross Building Area | 118,896 SF |
| Build-able Units | 269 Unit 189 (1-Bedroom) | 80 (STUDIOS) |
| Stories | 6 |
| Average Unit Size | 300 - 443 |
| Existing Rentable Building | 79,900 SF |
| Total Buildings Area | 198,796 SF |
| Existing Parking | 95 |
| Legal Description | |
| Site Address | 3756 Santa Rosalia Dr., Los Angeles, CA 90008 |
| Zoning | C2-1-SP | Tier 3 |
| APN | 5032024014 |
| Existing Condition | Medical Office/Parking with Income |
| Gross Building Area - Residential: | 118,896 |
| Total Buildings Area | 198,796 |
3756 Santa Rosalia Dr
Price Analysis
Gross building area
118,896 SF
Build-able Units
269
STORIES
6 FLOORS
LOT SIZE
65,546 SF
NET RENTABLE AREA
79,900 SF
| COST SUMMARY | |
|---|---|
| Acquisition Costs: | $39,900,000.00 |
| Operating Expenses - Construction site | $ 997,500.00 |
| Construction Costs: | $36,000.000.00 |
| Development Costs | $76,897,500.00 |
| NOI: Existing Commercial | $ 1,340,000.00 |
| Total Development Costs | $75,557,500.00 |
| Plan #1 : DISPOSITION | ||
|---|---|---|
| Projected Residential Value at Disposition Cap Rate of 6.5% | $ 83,918,874.46 | |
| Projected Commercial Value at $449 Per SF | $ 35,875,100.00 | |
| Projected Property Value: | $ 119,793,974.46 | |
| Sales Proceeds at Disposition: | ||
| Projected Sale Value: | $ 119,793,974.46 | |
| Broker Commission: at 4.0% of Sale Price | $ 4,791,758.98 | |
| Closing Cost: at 0.5% of Sale Price | $ 598,969.87 | |
| Net Sale Proceed | $ 114,403,245.61 | |
| ROI | 51.41% | |
| less: Project Cost | $ 75,557,500.00 | |
| Net Profit | $ 38,845,745.61 | |
| PLAN #2: HOLD | |
|---|---|
| OPERATING PERFORMANCE | |
| a) Scheduled Residential Lease Revenue | $ 7,115,292.00 |
| less: Manager Unit | $ 24,048.00 |
| less: Vacancies & Bad Debt at 3.00 % | $ 213,458.76 |
| less: Operating Expenses | $ 1,423,058.40 |
| Residential Cash Flow | $ 5,454,726.84 |
| b) Scheduled Existing Commercial Net Operating Income | $ 1,608,000.00 |
| Residential/Commercial Cash Flow | $ 7,062,726.84 |
| Net Operating Income | $ 7,062,726.84 |
| Cap Rate on Total Cost | 9.35% |
3756 Santa Rosalia Dr
Project Plans
Baldwin Hills - Crenshaw District
Neighborhood
Located in the heart of the Baldwin Hills–Crenshaw district, one of Los Angeles’ most historic and culturally vibrant communities.
Offers excellent access to major freeways including I-10, I-110, and I-405, providing easy connectivity to Downtown Los Angeles, Culver City, and LAX.
Within walking distance to the Expo/Crenshaw Metro Station (K Line), offering fast transit to SoFi Stadium, LAX, and Downtown LA.
The property is situated near Baldwin Hills Crenshaw Plaza, Leimert Park Village, and Stocker Corridor Trail, providing a mix of retail, cultural, and recreational experiences.
Surrounded by ongoing transit-oriented development (TOD) projects bringing new housing, restaurants, and public spaces to the neighborhood.
A diverse and well-established community with a strong sense of cultural identity and local pride.
Home to professionals, artists, and families who value accessibility, community, and heritage.
The area continues to attract younger residents seeking high-quality housing and vibrant urban living close to transit and entertainment.
Characterized by mid-century apartments, modern condominiums, and mixed-use developments.
Growing number of redevelopment projects adding new multifamily housing near Crenshaw Boulevard and the K Line stations.
Offers a balance of market-rate and affordable housing, supporting a wide range of income levels.
Excellent walkability to retail, transit, and outdoor recreation areas.
Offers a dynamic, culturally rich lifestyle with proximity to major attractions like Leimert Park, Culver City Arts District, and Kenneth Hahn State Park.
The neighborhood is known for its arts, music, and community festivals, contributing to a strong creative spirit.
Popular dining destinations include local favorites such as Post & Beam, Harold & Belle’s, and Simply Wholesome.
Access to scenic views, walking trails, and open-air markets enhances the neighborhood’s livability.
Served by the Los Angeles Unified School District (LAUSD).
Nearby schools include Dorsey High School, Audubon Middle School, and Baldwin Hills Elementary Pilot School.
Close proximity to West Los Angeles College and USC, offering diverse higher education opportunities.
Steps from Baldwin Hills Crenshaw Plaza with major retail and entertainment options.
Nearby Kaiser Permanente Baldwin Hills–Crenshaw Medical Offices and Crenshaw Christian Center serve the local community.
Access to Kenneth Hahn State Recreation Area for hiking, sports, and outdoor relaxation.
The Crenshaw/LAX Transit Corridor Project continues to enhance connectivity, supporting long-term growth and accessibility.
