Property listed by Keller Williams Larchmont, Paul Yoo 323-762-2600
$1,050,000
Prime Development Opportunity in Koreatown Adjacent R3 Zoning! Located in a rapidly developing area near Koreatown, this R3-zoned property sits on a spacious 7,505 sqft lot, making it an ideal candidate for redevelopment or a lucrative rental investment. Surrounded by large apartment complexes and offering easy access to major… Read More freeways, this location provides exceptional convenience and strong demand for housing. The property currently consists of three income-generating units: Unit #1: 4BR/2BA $3,200/month (Front Unit) Unit #2: 2BR/1BA $1,255/month (Second Floor) Unit #3: 1BR/1BA $1,890/month (First Floor). Additional features include two garages plus six additional parking spaces, providing ample parking options for tenants or future development plans. Totaling $6,345/month in rental income, this investment presents immediate cash flow while offering tremendous potential for future development. With ongoing city redevelopment efforts in nearby Hollywood and Koreatown, plus Metro expansion improving accessibility, this location is poised for continued growth. Don't miss this rare opportunity to capitalize on a prime LA property with endless possibilities! Buyer to verify all zoning and development potential. Read Less
Built in 1922, Building area total: 3,081, Levels: Two, Living area: 3081, 2 stories, 3 buildings, Architectural style: Contemporary, Construction materials: Stucco
Heating
NaturalGas
Income
Gross income: $76,140, Net operating income: $56,880
Lot
0.1723 acres, 7,507 square feet, Size: 7,507
Parking
Garage
Pool
SeeRemarks
Property
Zoning: LAR3, Mountains
Roof
Composition, Shingle
Security Features
SmokeDetectors
Spa
None
Windows
Blinds, Screens
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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