LARGE PRICE REDUCTION! BRING ALL OFFERS! 14 existing units in prime Mid City LA with RTI's and approved plans by the City of LA to begin building (2) ADU's in the back, which would turn the building into 16 units and add substantial income, all while still having plenty of on-site tenant parking spaces post-ADU completion. This 1960's construction building has all 2 Bed/1 Bath units and is offered at a low $219,643 per unit, with the opportunity to make it $192,188 per unit post-ADU completion. In-place 12.4 GRM on current rents with the upside to a 6.35 GRM. The roof was replaced in 2017, has copper plumbing throughout, EQ retrofitting has been completed, brand new master water heater, and brand-new on-site laundry room for tenants. There's 100% rental upside for the next owner to achieve, and approximately 65% rental upside after ADU's are completed and assuming all other rents stay the same. There's everything to love about this prime and central Mid City location as it borders West Adams, Koreatown and Downtown Los Angeles and Pico Union.
|
DAYS ON MARKET
|
86
|
LAST UPDATED
|
4/8/2024
|
|
YEAR BUILT
|
1960
|
COMMUNITY
|
Mid Los Angeles
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
|
Prior to Mar 12, '24
|
$3,250,000
|
|
Mar 12, '24 - Apr 8, '24 |
$3,175,000
|
| Apr 8, '24 - Today |
$3,075,000 |
| APPLIANCES |
Dishwasher, Disposal, Dryer, Refrigerator, Washer |
| AREA |
Mid Los Angeles |
| BUYER'S BROKERAGE COMPENSATION |
1.500 % |
| GARAGE |
Assigned |
| HEAT |
Wall Furnace |
| INTERIOR |
Ceiling Fan(s) |
| LOT |
0.3 acre(s) |
| LOT DIMENSIONS |
74x179 |
| PARKING |
Assigned |
| STORIES |
2 |
| ZONING |
LAR3 |
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Listed with Avenue Realty Group
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/2/24 12:54 AM PDT 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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