A Parcel Behind on Taxes Since 2024 Just Built 17 Affordable Units

A Los Angeles parcel that has owed delinquent property taxes since 2024 is also the site of an issued city permit for a new 17-unit, 100% affordable apartment building. The LA County Assessor lists parcel 5177-027-019, 2429 Folsom St., as tax status DELINQUENT with a default year of 2024. LADBS records show a separate, issued permit on the same parcel for new construction.

Why it matters

For developers and builders weighing a distressed site, this parcel shows both signals at once: unpaid property tax going back to 2024, and an active, issued building permit for new affordable housing. Permit 23010-10000-01306 covers a 3-story, 17-unit building using Tier 4 Transit Oriented Communities (TOC) base incentives, the city’s highest TOC density bonus tier, which lets a project add units and reduce parking near high-frequency transit in exchange for income-restricted units. The Assessor record does not name an owner, so the delinquency and the permit cannot be tied to a specific entity by name from this record alone, but both sit on the identical parcel.

The numbers

The permit declares $1.1 million in construction value for the 17-unit building, a per-unit figure that reflects the permit filer’s declared value, not an audited construction cost. The Treasurer-Tax Collector’s office holds the actual redemption amount owed on the default; that figure is not published on the Assessor’s parcel page. The default dates to 2024, meaning at least one and potentially two annual tax cycles have gone unpaid while the permit moved through the city’s ministerial affordable-housing track.

What’s next

We will track the parcel’s tax-default status against the Treasurer-Tax Collector’s records and the permit’s progress toward a certificate of occupancy, and update this story with the ownership entity if it surfaces on a future Assessor or RR/CC record. More Los Angeles distress and permit activity is on our Los Angeles market page.