Property listed by Lyon Stahl Investment Real Estate, Inc., William James 310-425-9838
$3,600,000
695 S. Norton Avenue is a rare 9-unit multifamily investment opportunity located in the heart of Wilshire Park, one of Koreatown's most desirable neighborhoods. Encompassing 11,647 rentable square feet, the property offers exceptionally large units with the two bedrooms averaging approximately 1,375 square feet each. The well-balanced unit mix… Read More includes six (6) spacious 2-bedroom, 2-bath units; two (2) 2-bedroom, 2-bath units with dens; and one (1) Studio unit. All residences are situated above a gated, subterranean parking garage with 13 spaces. Additional property features include secured entry with intercom access, gated underground parking, an elevator, and a shared laundry facility. With approximately $130,000 in rental upside (representing a 50% loss-to-lease), a new owner will have the opportunity to add significant value through interior renovations as units turn. Positioned just off Wilshire Boulevard, between the Wilshire/Western and Wilshire/La Brea Metro stations, the property offers tenants seamless connectivity to both Downtown Los Angeles and the Westside. Read Less
Listing Snapshot
Days Online
54
Last Updated
Property Type
Other
Beds
18
Square Ft.
11,647
Lot Size
0.16 Acres
Year Built
1965
MLS Number
25572123
30 Days Snapshot Of 90005
$777k
-20%
(avg) sold price
3
-40%
homes sold
128
+43%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator, Dryer, Washer
Building
Built in 1965, Building area total: 11,647, Levels: MultiSplit, Living area: 11647, 1 building, Architectural style: MidCenturyModern, Attached, Common walls: OneCommonWall, Construction materials: Stucco
Community
Gated
Cooling
CentralAir
Fireplaces
Gas
Heating
Central
Income
Gross income: $265,218, Net operating income: $152,647
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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