Property listed by KW Commercial Studio City, Nick Astrupgaard 818-432-1500
$5,325,000
... Fully renovated 18-unit apartment building delivering an attractive 7.75% Cap Rate from day one. This offering provides investors with the opportunity to acquire a turnkey, premium asset with strong in-place income. 16 fully renovated units from the studs in 2023 with permits, along with 2 brand-new detached ADUs (Not… Read More subject to RSO) constructed in 2024. The unit mix includes eighteen (18) spacious and well-designed one-bedroom, one-bathroom apartments totaling approximately 8,677 square feet of improvements on a 7,700 square foot LAR3-zoned lot. The property is separately metered for gas and electricity to further minimize the operating expenses. Ownership has completed a comprehensive, permitted renovation, including a new roof, upgraded plumbing and electrical systems, new panel and wiring, updated HVAC systems, and new windows throughout. Interiors feature new wood flooring, modern lighting, and fully upgraded kitchens and bathrooms with new cabinetry, countertops, vanities, and fixtures. The property offers strong curb appeal with fresh exterior paint and professional landscaping, creating an inviting tenant experience. Located in the highly desirable Koreatown and Wilshire Center submarkets, the asset benefits from close proximity to Larchmont Village, Hollywood, and Downtown Los Angeles, as well as excellent walkability to dining, entertainment, and cultural amenities. With its prime location and strong income profile, 4203 Council Street represents an ideal investment for buyers seeking immediate cash flow and long-term appreciation. Read Less
Listing Snapshot
Days Online
76
Last Updated
Beds
18
Square Ft.
8,678
Lot Size
0.18 Acres
Year Built
1923
MLS Number
26723965
Additional Details
Building
Built in 1923, Living area: 8678.0, 2 buildings, 2 stories, Levels: Two
Income
Gross Income: $544,733, Net Operating Income: $412,731
Lot
0.1768 acres
Parking
OnStreet
Taxes
Parcel Number: 5518004008, Zoning: LAR3
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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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