Property listed by Marcus & Millichap, Jason Tuvia 818-212-2700
$1,850,000
3rd Price Reduction! 8-unit building cash flowing at a 6.3% Cap Rate from day 1 with upside to an 8% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 11.9% Current Cap Rate, 13.2% Proforma Cap, and only 158k/unit… Read More 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. Read Less
Listing Snapshot
Days Online
13
Last Updated
Beds
3
Square Ft.
3,399
Lot Size
0.15 Acres
Year Built
1906
MLS Number
25615527
Additional Details
Building
Built in 1906, Living area: 3399.0, 1 building, Levels: Two
Income
Gross Income: $170,616, Net Operating Income: $116,579
Lot
0.1549 acres
Parking
Unassigned, Uncovered
Taxes
Parcel Number: 5077028002, Zoning: LAR4
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