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$1,325,000
Est. payment /mo
4,032 SqFt
UPDATED:
02/18/2025 02:00 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,032 sqft
Price per Sqft $328
MLS Listing ID CL24453971
HOA Y/N No
Year Built 1906
Lot Size 6,274 Sqft
Acres 0.14
Property Sub-Type Other
Property Description
We are pleased to present this great investment income property in the heart of Los Angeles nearby Downtown LA (LA Convention Center, Crypto.com Arena, USC) and Korea-Town (bars, restaurants, and cafes). The Mid-Wilshire area is a highly dense neighborhood with high occupancy rates. The property has 6-Units and is Zoned LAR4 for future development potential on the corner of Hoover St. and 12th St. All tenants are current on rent. This 2-story apartment is an expansive 4,032 SF on a 6,272 SF lot with 10 parking spaces. The rear parking lot has potential for an ADU. Units consist of one 3 beds and 2 baths unit, one 2 beds and 1 bath unit, two 1 bed and 1 bath units, and two studio units. Easy access to the 10, 101, and 110 freeways. The cap rate of 5.9% is based on current gross income ($114,300) and expenses with the new property tax amount at the asking price of $1,325,000.
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Utilities Available Other Water/Sewer
Building
Water Other
New Construction No
Others
Tax ID 5076015023
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Listed by Roy Kwak • Sunnyside Group
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Parisa Samimi
Founder & Real Estate Broker | License ID: 01858122
Founder & Real Estate Broker License ID: 01858122