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$ 1,950,000
Est. payment | /mo
3 Beds
8 Baths
3,399 SqFt
$ 1,950,000
Est. payment | /mo
3 Beds
8 Baths
3,399 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,399 sqft
Price per Sqft $573
MLS Listing ID 25556971
Bedrooms 3
HOA Y/N No
Year Built 1906
Lot Size 6,769 Sqft
Property Description
Price Reduction! 8-unit building cash flowing at a 5.5% Cap Rate from day 1 with upside to a 7.1% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 10.6% Current Cap Rate, 11.8% Proforma Cap, and only 164k/unit after taking into account all the construction costs (~680k assuming $250/SF). Large 6,770 SF R4 Lot with TOC Tier 3 designation for future development potential. 5 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, and more. Prime Koreatown location just minutes away from the Wilshire/Vermont Metro station as well as many hip neighborhood attractions, restaurants, bars, and shops such as The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-unit luxury high-rise development) and many more.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Fireplace No
Exterior
Parking Features Uncovered
Total Parking Spaces 9
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5077028002
Special Listing Condition Standard
Listed by Kian Maronde Marcus & Millichap
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