Price $1,599,999
Status Active
Beds 0
Baths 0 Bath
Home size 4,274 sqft
Lot Size 5,798 sqft
Days on Market 365
GREAT OPPORTUNITY AND INVESTMENT IN KOREATOWN!!! R-3 ZONING!!! RIGHT IN THE HEART OF LOS ANGELES!!! THIS CASH-FLOWING, TAX-SHELTERING, CASH-FLOWING, CASH-ON-CASH RETURNING PROPERTY HAS THE ABILITY TO BUILD ADDITIONAL UNITS. BORDERED BY SILVER LAKE AND ECHO PARK. "JUST" BLOCKS AND WALKING DISTANCE AWAY TO WILSHIRE CENTER, WILSHIRE AND WESTERN, BUS / TRAINS / SUBWAY STATIONS, ETC. THIS INCOME PROPERTY IS HAS A TERRIFIC UPSIDE POTENTIAL, FANTASTIC RATES OF RETURN WITH A 3.31% CAP RATE (POTENTIAL FOR 5.00%), AND 24.51% GROSS RENT MULTIPLIER (POTENTIAL FOR 14.00%) FOR THE AREA -- TONS OF ROOM FOR GROWTH!!! PRICED TO SELL. LOTS OF UPSIDE IN RENTS ($61,200.00 IN GROSS INCOME AND DUE FOR ANNUAL INCREASE). POTENTIAL RENTS ARE $96,000 to $192,000 ANNUALLY. TONS OF GENTRIFICATION HAPPENING IN THE AREA. LARGE SIZE FOR THE AREA -- OVER 4,274 SQ.FT. OF LIVING SPACE, 4 CAR GARAGES (2 CARS FOR EACH UNIT) AND MORE. JUST UNDER $351K/SQ.FT. THIS PROPERTY HAS THE POTENTIAL TO BUILD MULTIPLE MORE UNITS WORTH OF INCOME (ZONED R-3). THIS PROPERTY MAINTAINS TWO(2) 3 BEDROOM AND 2 BATHROOMS. TONS OF POTENTIAL. LOTS OF ROOM FOR PARKING AND FOR BUILDING. PERFECT PROPERTY FOR SOMEONE TO LIVE AND RENT THE OTHERS AND BUILD MORE AS THEY GO! LOTS OF UPSIDE!!! GREAT OPPORTUNITY TO 1031 INTO!!! THIS IS A GROWING MARKET WITH LOTS OF GROWTH!!! DON'T WAIT BEFORE IT'S TOO LATE!!! DO NOT MISS THIS GOLDEN OPPORTUNITY!!! *** Buyer(s) and their agents are to determine the accuracy of the information provided ***
Property Type(s): Residential Income
Last Updated 10/2/2019 Year Built 1933
Community KREA - Koreatown County Los Angeles

Additional Details

AIR Central Air
AIR CONDITIONING Yes
AREA KREA - Koreatown
EXTERIOR Awning(s), Rain Gutters
GARAGE Driveway - Combination, Garage
HEAT Central
INTERIOR Balcony
LOT 5798 sq ft
LOT DESCRIPTION Front Yard, Lawn, Level, Park Nearby, Yard
LOT DIMENSIONS 55x105
POOL DESCRIPTION None
SEWER Public Sewer,Unknown
STORIES 2
STYLE Modern
UTILITIES Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
VIEW Yes
VIEW DESCRIPTION Neighborhood
WATER Public
ZONING LAR3

Location

 

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Listing provided by : Alexander Romero CalDRE: 01836294, Remax Masters

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of 9/30/20 2:36 PM PDT 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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