$5,625,000
$6,000,000
6.3%For more information regarding the value of a property, please contact us for a free consultation.
0.31 Acres Lot
SOLD DATE : 12/29/2021
Key Details
Sold Price $5,625,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 21697094
Sold Date 12/29/21
HOA Y/N No
Year Built 1963
Lot Size 0.314 Acres
Property Description
Reduced 750k! Once in a lifetime 100% Vacant 15 Units + 4 ADUs in Prime Mid City priced at only 349k/door for vacant units. Value add opportunity with a huge upside to 7.5% Cap Rate and 10.6 GRM after renovations. Excellent location minutes from Beverly Hills, Culver City, and West Adams. Potential to create 2 detached 1,200 SF 3 Bed 3 Bath ADUs & 2 attached 400 SF 1 Bed 1 Bath ADUs. Please see Financials & Preliminary ADU Plans in the Docs section. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of ADUs. Individually metered for Gas & Electricity.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Carport
Total Parking Spaces 4
Building
New Construction No
Others
Senior Community No
Tax ID 5070012048
Special Listing Condition Standard
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Bought with Wonnie Kim • Won Suk Kim Real Estates, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "