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$1,950,000
Est. payment /mo
3 Beds
8 Baths
3,399 SqFt
UPDATED:
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 25583153
Bedrooms 3
HOA Y/N No
Year Built 1906
Lot Size 6,747 Sqft
Property Description
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 Unassigned, Uncovered
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5077028002
Special Listing Condition Standard
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Listed by Jason Tuvia Marcus & Millichap
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