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2627 San Marino St

Los Angeles, CA 90006
  • $1,395,000
  • STATUS: Active
  • ON SITE: 89 Days
  • MLS #: 21-797914
UPDATED: 61 min ago
$1,395,000
  • 8
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,680
    SQFT
  • $298
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1916
County:
Area:

School Ratings & Info

Description

Promising residential-redevelopment opportunity in the heart of Koreatown/Westlake. The offering consists of a 4 unit building totaling 4,680 square feet of living space. Excellent value, priced at only $298/SF. The said offering sits on a 6,750 SF (Tier 2) R4-1 Lot which allows you to build 16 units by right and 29 units by TOC. Incredible upside to Proforma Cap Rate of 6.8% and GRM of 11.6. Plans to add 2 detached ADUs in the back to improve numbers further. The property is centrally located just 1.5 miles West of LA Live, Staples Center and 2 miles North of the USC campus. Located just a few blocks South Wilshire Blvd., in proximity to the 110 and 10 fwys, and in a walker paradise (97 walking score). This is an opportunity that cannot be missed! Please see Financials & Preliminary ADU Plans in the Docs section.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-19T17:42:54.93. 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.
www.desertarealuxuryhomes.com/homes/122651599
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2627 San Marino St Los Angeles, CA 90006

  • Price: $1,395,000
  • Status: Active
  • On Site: 89 Days
  • Updated: 61 min ago
  • MLS #: 21-797914
8
Beds
0
Baths
0
½ Baths
0.16
Acres
4,680
SQFT
$298
$/SQFT
1916
Built
Neighborhood:
Mid-Wilshire
County:
Los Angeles
Area:
Mid-Wilshire
Property Description
Promising residential-redevelopment opportunity in the heart of Koreatown/Westlake. The offering consists of a 4 unit building totaling 4,680 square feet of living space. Excellent value, priced at only $298/SF. The said offering sits on a 6,750 SF (Tier 2) R4-1 Lot which allows you to build 16 units by right and 29 units by TOC. Incredible upside to Proforma Cap Rate of 6.8% and GRM of 11.6. Plans to add 2 detached ADUs in the back to improve numbers further. The property is centrally located just 1.5 miles West of LA Live, Staples Center and 2 miles North of the USC campus. Located just a few blocks South Wilshire Blvd., in proximity to the 110 and 10 fwys, and in a walker paradise (97 walking score). This is an opportunity that cannot be missed! Please see Financials & Preliminary ADU Plans in the Docs section.
Exterior Features

Cross Streets Hoover & Olympic Lot Size Area 6750 Other Structures None Parking Garage Covered Parking Total Parking 0

Interior Features

Baths Total 4.00 Cooling Window Unit(S) Equipment None Heating Wall Gas

Property Features

Assessed Total Value 91184 Gross Income 35208 Gross Operating Income 35208 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Net Operating Income 13962.00 Number Of Buildings 1 Number Of Units 4 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 21246 Type Of Units Fourplex Year Built Source Vendor Enhanced Zoning Lar4

Listing provided courtesy of Armin Soleimani DRE#01846872 of Global Platinum Properties, Inc..


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-19T17:42:54.93. 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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