Price Reduction! Well maintained 17-unit building in prime Hancock Park/Larchmont Village area cash flowing at an amazing Current Cap Rate of 5.3% from day 1 with upside to 7.5% Cap Rate on Proforma. Approved RTI plans to add 4 detached ADUs to achieve a remarkable 7% Current Cap Rate, 9.2%… Read More Proforma Cap Rate, and only 277k/door after taking into account all constructions costs (~340k assuming $250/SF). Large unit mix of 6 (2bed/2bath) units, 2 (2bed/1bath) units, and 9 (1bed/1bath) units including 3 newly-built attached ADUs. Select units have been renovated and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, stainless steel appliances, and major exterior capital improvements. Amenities include a renovated pool and courtyard with seating areas, on-site laundry facilities, secure entry, and parking for convenience. Individually metered for gas & electricity with soft-story retrofit already completed. Large 14,364 SF R3 TOC Tier 3 corner lot for future development potential. Located in the heart of Hancock Park just minutes away from Larchmont Village, Koreatown, Hollywood, and Melrose as well as many hip neighborhood attractions, restaurants, bars, and shops such as Wilshire Country Club, Paramount Studios, H Mart, Levain Bakery, Salt & Straw, and Great White, popping up all around the area. Read Less
Property listed by Global Platinum Properties, Inc., Armin Soleimani 424-394-1030
Listing Snapshot
Days Online
50
Last Updated
Property Type
Other
Beds
25
Square Ft.
12,628
Lot Size
0.33 Acres
Year Built
1961
MLS Number
25587109
30 Days Snapshot Of 90004
$2.09M
-31%
(avg) sold price
19
+90%
homes sold
85
+3%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1961, Building area total: 12,628, Levels: Two, Living area: 12628, 2 stories, 1 building
Community
Gated
Heating
Electric
Income
Gross income: $425,016, Net operating income: $291,053
Lot
0.3287 acres, 14,319 square feet, Size: 14,319
Parking
8 totals parking, Gated
Pool
InGround
Property
Zoning: LAR3
Security Features
GatedCommunity
Find The Perfect Home
'VIP' Listing Search
Join our email list to have access to the best off market listings in Los Angeles.
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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
