Price Reduction! 8-unit building cash flowing at a 5.75% Cap Rate from day 1 with upside to a 7.4% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 10.9% Current Cap Rate, 12.1% Proforma Cap, and only 160k/unit after… Read More 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
Property listed by Marcus & Millichap, Jason Tuvia 818-212-2700
Listing Snapshot
Days Online
40
Last Updated
Property Type
Other
Beds
3
Square Ft.
3,399
Lot Size
0.15 Acres
Year Built
1906
MLS Number
25583153
30 Days Snapshot Of 90006
$672k
-21%
(avg) sold price
10
+233%
homes sold
72
-7%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1906, Building area total: 3,399, Levels: Two, Living area: 3399, 2 stories, 1 building
Income
Gross income: $159,192, Net operating income: $108,901
Lot
0.1549 acres, 6,747 square feet, Size: 6,747
Parking
Unassigned, Uncovered
Property
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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