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$ 2,900,000
Est. payment | /mo
7,472 SqFt
$ 2,900,000
Est. payment | /mo
7,472 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,472 sqft
Price per Sqft $388
MLS Listing ID CL26747731
HOA Y/N No
Year Built 1950
Lot Size 8,702 Sqft
Acres 0.1998
Property Sub-Type Other
Property Description
***MAJOR PRICE REDUCTION. Exceptional Koreatown LAR5 / Tier 3 TOC development opportunity. New pricing creates compelling value for developers, investors, and value-add buyers in one of LA's strongest high-density growth corridors.*** Prime Koreatown LAR5-zoned property with Tier 3 TOC designation ideal for high-density multifamily, mixed-use, or future condo/hotel development. 11-unit income-producing building, fully occupied, generating $13,640.88/month in actual rents ($163,690.56 annually). Cap rate ~2% | GRM 23.82 this is a land-value and entitlement play, not a cash-flow asset. Flat 8,700 SF lot with potential for 26,000 buildable SF by right (buyer to verify).No Ellis Act or tenant buyouts completed developers maintain full control of exit or repositioning strategy. Subject to LA Rent Stabilization (RSO); Unit 3 currently rented at $394/month under RSO. Income can support carrying costs during planning or entitlement phases. Located just blocks from Wilshire Blvd, Metro stations, and major Koreatown projects. Rare offering in a dense, high-demand corridor with limited LAR5 inventory. Not currently RTI but the flat LAR5 lot and Tier 3 zoning make it a candidate for streamlined entitlement.
Location
State CA
County Los Angeles
Zoning LAR5
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 5094007015
© 2026 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Beata Mandell • The Executive Realty Group
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Patrick Nagel
REALTOR® | Lic# 1760790