Located at 921 N Manzanita St, Los Angeles, CA 90029, this 7,313 SF lot, zoned R-3, offers a shovel-ready investment opportunity with ready-to-issue (RTI) permits for a 27-unit, five-story assisted living facility (ALF), expandable to 31–33 units by converting community spaces. Positioned just six weeks from breaking ground, the project features a 14-month construction timeline and a $5M construction budget (excluding financing costs), making it a prime entry into Los Angeles’ high-demand senior care market. The existing 2,297 SF duplex generates $96,000 in annual revenue and $72,000 in net operating income (NOI), providing steady cash flow during the sale and development phases.
Designed for the luxury market, the five-story ALF will house only six residents per floor, with spacious 310–380 SF suites featuring private full bathrooms, alongside 707 SF of community spaces per floor, including a living room, dining area, private kitchen, and a patio with city views. A secure garden area enhances the resident experience, complemented by ADA-compliant parking, an elevator, and connectivity to public utilities, sewer, and municipal water. This opportunity appeals to entrepreneurs launching a Class A senior care facility, experienced ALF operators expanding or relocating, and investors leveraging financing options like an SBA 504 loan, which supports qualified operators with a 15–20% down payment. The project’s RTI permits, immediate cash flow, and alignment with the growing demand for premium senior care in Los Angeles position it as a low-risk, high-reward investment in a thriving sector.
