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$2,995,000
Est. payment /mo
4,444 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,444 sqft
Price per Sqft $673
MLS Listing ID CL25543895
HOA Y/N No
Year Built 1953
Lot Size 7,086 Sqft
Acres 0.16
Property Sub-Type Other
Property Description
Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 6% Cap Rate and 12.1 GRM from day 1. Preliminary plans to add 6 detached ADUs to achieve a remarkable 9% Cap Rate and 8.6 GRM after taking into account all constructions costs (~566k assuming $250/SF). All 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 4 (1bed/1bath) units, 2 (2bed/1bath) units, and 1 spacious brand-new (3bed/2bath) unit. Additionally, the major systems have been updated including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential. Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Other
Cooling Central Air
Flooring Laminate
Fireplace No
Exterior
View Y/N true
View City Lights
Building
New Construction No
Others
Tax ID 5153026006
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Listed by Alex 'Zan' Sacker • Keller Williams Los Angeles
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