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$ 1,795,000
Est. payment | /mo
3 Beds
8 Baths
3,399 SqFt
$ 1,795,000
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 $528
MLS Listing ID 26782991
Bedrooms 3
HOA Y/N No
Year Built 1906
Lot Size 6,747 Sqft
Property Description
Huge 200k Price Reduction! 8-unit building cash flowing at a 6.75% Cap Rate from day 1 with upside to an 8.3% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 12.1% Current Cap Rate, 13.3% Proforma Cap, and only 154k/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
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Gated
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5077028002
Special Listing Condition Standard
Listed by Julio Ruiz Global Platinum Properties, Inc. #01911261
NEARBY SCHOOLS & PROPERTIES
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STEVE & KRISTA: The WIDNER Team
Agent | License ID: 00680027
29811 Santa Margarita Parkway, Suite 100, Margarita, CA, 92688