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$1,250,000
Est. payment /mo
4,032 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,032 sqft
Price per Sqft $310
MLS Listing ID CL26681233
HOA Y/N No
Year Built 1906
Lot Size 6,274 Sqft
Acres 0.144
Property Sub-Type Other
Property Description
Discover a rare investment opportunity just minutes from Downtown LA's premier attractions: the LA Convention Center, Crypto.com Arena, USC, plus the vibrant dining and nightlife of Koreatown. Nestled in the bustling Mid-Wilshire district, this fully rented, six-unit asset delivers strong occupancy, steady cash flow and exciting upside potential. Key Highlights are Prime Corner Lot: 6,272 SF parcel at Hoover St. & 12th St., zoned LAR4 for future redevelopment, Spacious Living: 4,032 SF building across two stories, featuring: One 3 BR/2 BA unit, One 2 BR/1 BA unit, Two 1 BR/1 BA units, Two studio units. Ample Parking & ADU Potential: 10 dedicated spaces in rear lot with room to add an accessory dwelling unit. Effortless Connectivity with access to I-10, US-101 and I-110 freeways. Strong Financials: Current gross income of $119,976, 6.4% cap rate at a list price of $1,295,000 (incorporating the new property tax basis). All tenants are current on rent, ensuring uninterrupted cash flow from day one. Whether you're seeking a stable, income-producing asset or a development play in one of L.A.'s most sought-after neighborhoods, this investment offers the best of both worlds. Schedule your private tour today and seize the opportunity to own a vibrant piece of Los Angeles real estate.
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Building
Water Other
New Construction No
Others
Tax ID 5076015023
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Listed by Roy Kwak • Sunnyside Group