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… Read More 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. Read Less
Property listed by The Executive Realty Group, Beata Mandell 310-259-7556
Listing Snapshot
Days Online
20
Last Updated
Beds
12
Square Ft.
7,472
Lot Size
0.2 Acres
Year Built
1950
MLS Number
26747731
Additional Details
Appliances & Equipment
Microwave, Refrigerator
Building
Built in 1950, Living area: 7472.0, 1 building, 2 stories, Levels: Two
Heating
WallFurnace
Income
Gross Income: $1.63691e+07, Net Operating Income: $79,130.6
Lot
0.1998 acres, Dimensions: 60x145
Parking
7 total parking spaces, Driveway, Uncovered
Taxes
Parcel Number: 5094007015, Zoning: LAR5
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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.
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