$2,550,000
2375 W 12th Street Los Angeles, CA 90006
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$2,550,000
Est. payment /mo
12,306 SqFt
Active
2375 W 12th Street Los Angeles, CA 90006
UPDATED:
11/05/2024 02:12 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 12,306 sqft
Price per Sqft $207
MLS Listing ID CL24457491
HOA Y/N No
Year Built 1923
Lot Size 0.321 Acres
Acres 0.32
Property Description
We are pleased to exclusively present 2375 W 12th Street, an 11-Unit multi-family apartment located in the Koreatown neighborhood of Los Angeles California, bordering Downtown. This value-add investment opportunity offers significant upside potential in a prime Southern California rental market. Constructed in 1923, the two-story building comprises a mix of spacious units, including one studio, six one-bedroom/one-bath units, and four two-bedroom/one-bath units, totaling 12,306 rentable square feet. The property sits on a prominent 13,999 square foot corner lot and includes key amenities such as an on-site laundry facility and parking garages. With current rents over 70% below market value, this property provides investors with a significant opportunity to increase rental income. The potential to achieve a Pro Forma CAP rate of over 8.5% makes this asset particularly attractive. Additional income growth may also be realized through the potential addition of accessory dwelling units (ADUs), subject to buyer verification and city approval. Strategically located just minutes from Downtown Los Angeles and the heart of Koreatown, the property enjoys proximity to major business districts, popular retail outlets, restaurants, and grocery stores. It also benefits from excellent connectiv
Location
State CA
County Los Angeles
Area Listing
Zoning LAR4
Interior
Heating Forced Air
Fireplace No
Exterior
Parking Type Other
Building
New Construction No
Others
Tax ID 5076012009
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Edward Pan • Colliers International Greater Los Angel
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