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$ 1,999,000
Est. payment | /mo
12,306 SqFt
$ 1,999,000
Est. payment | /mo
12,306 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 12,306 sqft
Price per Sqft $162
MLS Listing ID CL26759433
HOA Y/N No
Year Built 1923
Lot Size 0.321 Acres
Acres 0.3215
Property Sub-Type Other
Property Description
Great architecture on sale! 11-unit courtyard property about a mile from LA Live, Ritz Carlton, Convention Center and the Crypto Arena. This classic Spanish Colonial style building showcases timeless architectural appeal, featuring a striking symmetrical facade, red clay tile roof, arched entryway, and a beautifully landscaped central courtyard that creates a welcoming and private setting for residents. The property is well maintained and offers a well-balanced unit mix with strong in-place income and enormous upside in rents. Investors will appreciate the consistent rental demand driven by the property's central location, just minutes from Downtown Los Angeles, Koreatown, USC, and major employment hubs. Each unit benefits from abundant natural light, functional layouts, and the charm of period details that continue to attract long-term tenants. The gated courtyard design enhances both privacy and security, while the lush landscaping adds to the overall curb appeal and tenant experience. Additional income from laundry and separately metered for Electric, and gas. Priced at 11.7 GRM and 4.25 CAP Rate, this has both immediate cash flow and incredible upside in the future. Could benefit from SB1211 for new 8 ADUs
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Building
New Construction No
Others
Tax ID 5076012009
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Listed by Lee Ziff • Keller Williams Beverly Hills
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Patrick Nagel
REALTOR® | Lic# 1760790