REBusinessOnline

Farco Properties Buys Multifamily Development Site Near USC in Los Angeles for $5M

647-W-28th-St-Los-Angeles-CA

Farco Properties plans to develop a multifamily property at 647 W. 28th St. in Los Angeles.

LOS ANGELES — Farco Properties has acquired an 0.29-acre development site located near the University of Southern California (USC) in Los Angeles. A private seller sold the property for $5 million.

Located at 647 W. 28th St., the multifamily site provides a development opportunity on the area’s “Fraternity/Sorority Row” within walking distance of USC. The site, which is currently unentitled and used as a parking lot, is within a designated opportunity zone and is classified as a tier 3 transit-oriented community. Farco Properties plans to develop a multifamily property on the site.

Laurie Lustig-Bower and Kamran Paydar of CBRE represented the seller in the transaction.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Webinars on Demand


Conferences


Subscribe to the newsletter

Read the Digital Editions

Western Affordable Housing Business

Texas Affordable Housing Business

Southeast Affordable Housing Business

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties  

2021 Finance Insight Video Interviews