2694 James M Wood BLVD new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90006
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,399 sqft
Price per Sqft $557
MLS Listing ID 25615527
Bedrooms 3
Year Built 1906
Lot Size 6,747 Sqft
Property Description
Price Reduction! 8-unit building cash flowing at a 6.1% Cap Rate from day 1 with upside to a 7.8% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 11.7% Current Cap Rate, 12.9% Proforma Cap, and only 160k/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
Area C17 - Mid-Wilshire
Zoning LAR4
Exterior
Parking Features Unassigned,Uncovered
Building
New Construction No
Others
Special Listing Condition Standard