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$ 1,695,000
Est. payment | /mo
4,476 SqFt
$ 1,695,000
Est. payment | /mo
4,476 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,476 sqft
Price per Sqft $378
MLS Listing ID CRSB25192062
HOA Y/N No
Year Built 1922
Lot Size 6,502 Sqft
Acres 0.15
Property Sub-Type Other
Property Description
PLEASE DO NOT DISTURB OCCUPANTS .... Delivered 100% VACANT, this 5-unit property in Korea-town offers immediate income potential and future redevelopment upside. The mix includes three 1-bed/1-bath units with shared laundry ON SITE , one 3-bed/1-bath, and one 2-bed/1-bath with potential to reconfigure into a 4-bed/2-bath. An attached garage and ample surface parking that add to tenant appeal. Separately metered and impeccably maintained this property is a trophy property looking for its next owner. Rough Proforma renovated rents—1-bed units projected at $2,400, the 2-bed at $2,700, and the 3-bed at $3,900—the property generates an estimated $165,600 annually ($13,800/month) Offering the possibility of increasing the rental return by reconfiguring the 2/1 into a 4/2 . For long-term investors or developers, the LAR4 zoning and proximity to major transit may qualify the property for Tier 3 TOC incentives (buyer to verify). LA’s TOC program has been shown to improve feasibility by reducing approval risk, and the city’s new Citywide Housing Incentive Program (CHIP) adds streamlined procedures and incentives when affordability is provided on future developments (buyer to verify specifics with Planning) Preliminary review suggests potential for approx. 20- 27 units with up to 19
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate, Tile, Wood
Fireplace No
Laundry Gas Dryer Hookup, Laundry Room, Other, Inside, See Remarks
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5080009025
Virtual Tour https://www.zillow.com/view-imx/6d0887d4-b4dc-46ec-9d26-f5c61216bf2d?setAttribution=mls&wl=true&initialViewType=pano&utm_source=dashboard
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Listed by Deborah Bush • Jason Mitchell Real Estate CA
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Patrick Nagel
REALTOR® | Lic# 1760790