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$3,900,000
Est. payment /mo
12 Beds
12 Baths
7,472 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,472 sqft
Price per Sqft $521
MLS Listing ID 25543419
Bedrooms 12
HOA Y/N No
Year Built 1950
Lot Size 8,703 Sqft
Property Description
Prime Koreatown LAR5-zoned property with Tier 3 TOC designation ideal for high-density multifamily, mixed-use, or future condo/hotel development. 11-unit income-producing building, fully occupied, generating $13,640.88/month in actual rents ($163,690.56 annually). Cap rate ~2% | GRM 23.82 this is a land-value and entitlement play, not a cash-flow asset. Flat 8,700 SF lot with potential for 26,000 buildable SF by right (buyer to verify).No Ellis Act or tenant buyouts completed developers maintain full control of exit or repositioning strategy. Subject to LA Rent Stabilization (RSO); Unit 3 currently rented at $394/month under RSO. Income can support carrying costs during planning or entitlement phases. Located just blocks from Wilshire Blvd, Metro stations, and major Koreatown projects. Rare offering in a dense, high-demand corridor with limited LAR5 inventory. Not currently RTI but the flat LAR5 lot and Tier 3 zoning make it a candidate for streamlined entitlement.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR5
Interior
Heating Wall Furnace
Fireplace No
Appliance Microwave, Refrigerator
Exterior
Parking Features Driveway, Uncovered
Total Parking Spaces 7
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5094007015
Special Listing Condition Standard
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Listed by Zo Lakanwal The Executive Realty Group