Description
Price reduced! 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!
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0.16ACRES
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01/2 BATHS
School Ratings & Info
Description
Price reduced! 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!
Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-06-29T23:42:46.393. 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.