$2,550,000
- Beds
- 10
- sq ft
- 12,306
2375 W 12th St, Los Angeles, CA 90006
2375 W 12th St
Los Angeles, CA 90006
- 56 days on market
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 connectivity, with quick access to the 110 and 10 freeways and several public transportation options within Koreatown. The property is further distinguished by its R4-01 zoning and designation within a Transit Priority Area, making it an ideal candidate for redevelopment. This presents an exciting opportunity for long-term investors looking to maximize returns in one of Los Angeles' most vibrant and high-demand areas.
Details
Property type
Lot size
0.3215 acres
Price per sq ft
$208
Year built
1923
HOA
No
Price History
10/28/2024
CLAW #24457491
Listed
$2,550,000
Schools & Community
Neighborhood:
Harvard Heights
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 12/23/2024 at 8:00 AM
Listing updated: 12/04/2024 at 6:15 PM
Listed by: Edward Pan, Colliers International Greater Los Angel Phone #: (949) 724-5500
MLS: CLAW #24457491
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