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$ 1,850,000
Est. payment /mo
Active
2694 James M Wood Boulevard Los Angeles, CA 90006
3,399 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,399 sqft
Price per Sqft $544
MLS Listing ID CL25615527
HOA Y/N No
Year Built 1906
Lot Size 6,747 Sqft
Acres 0.15
Property Sub-Type Other
Property Description
3rd Price Reduction! 8-unit building cash flowing at a 6.3% Cap Rate from day 1 with upside to an 8% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 11.9% Current Cap Rate, 13.2% Proforma Cap, and only 158k/unit after taking into account all the construction costs (~680k assuming $250/SF). Large 6,770 SF R4 Lot with TOC Tier 3 designation for future development potential. 5 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, and more. Prime Koreatown location just minutes away from the Wilshire/Vermont Metro station as well as many hip neighborhood attractions, restaurants, bars, and shops such as The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-unit luxury high-rise development) and many more.
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 5077028002
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Listed by Jason Tuvia • Marcus & Millichap