An incredible investment opportunity priced at only $197,222/Unit. Built in 1988, this solid 18-unit building is entirely exempt from LA City RSO (No RSO, under CA AB1482 only), allowing investors to rapidly capture massive rental upside with a strong 9.64 GRM and 6.16% CAP Rate. The property features a desirable… Read More unit mix of 14 one-bedroom units and 4 studios and boasts significant upgrades including a brand-new tankless water heater system and a new CCTV camera system. The building offers tremendous value-add potential through strategic unit remodeling upon future turnover and extra income potential by reopening the unused on-site laundry room. Enjoy an exceptionally stable tenant base with over half of the residents staying for more than 10 years. Strategically located near Koreatown, the property sits at the epicenter of MacArthur Park's massive urban transformation. The park is undergoing a historic $30M+ revitalization, including a $2.5M grant project studying the permanent closure of Wilshire Blvd to unite the park into one massive green space, alongside major city-backed security enhancements and nightly closures for safety. Located near the approved Centro Westlake transit development with immediate access to the 10 and 110 freeways, this is perfect for investors seeking immediate, steady cash flow paired with explosive growth potential. Read Less
Property listed by Total Commercial, Inc., Sang (Brian) Ji 310-259-7556
Listing Snapshot
Days Online
11
Last Updated
Beds
14
3/4 Baths
18
Square Ft.
11,489
Lot Size
0.17 Acres
Year Built
1988
MLS Number
26848135
Additional Details
Building
Built in 1988, Living area: 11489.0, 1 building, 2 stories, Levels: MultiSplit
Heating
NaturalGas
Income
Gross Income: $368,220, Net Operating Income: $218,503
Lot
0.172 acres
Parking
18 total parking spaces, Underground
Taxes
Parcel Number: 5142003005, Zoning: LAR4
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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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