Property listed by Lyon Stahl Investment Real Estate, Inc., Taylor Avakian 310-425-9838
$2,350,000
2375 W 12th St | 11-Unit Multifamily at the Koreatown Westlake Border Built in 1923, the property consists of a well-balanced mix of (4) 2-bed/1-bath, (6) 1-bed/1-bath, and (1) studio unit, totaling 12,306 SF on a 13,999 SF LAR4 lot (~$167 land PSF). The building is fully occupied, producing $157,584… Read More in annual income, with market rents supporting up to $275,490 annually a $117K+ upside. Priced at $2,350,000 (~$214K per unit / $191 per SF), the asset offers a 3.44% current cap rate and an 8.01% pro forma cap rate, with stable cash flow today and a clear path to higher returns. Six on-site parking spaces further strengthen tenant demand and revenue potential in a dense submarket where parking is limited. Property gets $450 per month from garages and $200 per month from Laundry. Read Less
Listing Snapshot
Days Online
8
Last Updated
Beds
10
Square Ft.
12,306
Lot Size
0.32 Acres
Year Built
1923
MLS Number
25600503
Additional Details
Building
Built in 1923, Living area: 12306.0, 1 building, 2 stories, Levels: MultiSplit
Cooling
None
Heating
None
Income
Gross Income: $157,584, Net Operating Income: $80,834
Lot
0.3215 acres
Parking
6 total parking spaces
Taxes
Parcel Number: 5076012009, Zoning: LAR4
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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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