tomo logo

$1,450,000

Beds
4
Baths
2.5
sq ft
3,480

2823 W 8th St, Los Angeles, CA 90005

2823 W 8th St

Los Angeles, CA 90005

  • 3 days on market
Bank-Owned Property ( REO ) with LAR4-2 Zoning! Fantastic Investment Opportunity! GOOD FOR BUSINESS WITHIN R-4 ZONE. PRE-SCHOOL, ACUPUNCTURE, CPA, INS. OFFICE, AND MORE MORE. Build multi-unit residential buildings or apartments to cater to the growing housing demand. Develop a community center that offers various services and amenities to the neighborhood, such as educational programs, wellness centers, and recreational facilities. Unlock the potential of this prime real estate gem! Nestled in a coveted area with LAR4-2 zoning, this bank-owned property presents an unparalleled opportunity for savvy investors. Whether you're looking to develop residential units, commercial spaces, or a blend of both, the possibilities are endless. Don't miss out on this rare chance to acquire a bank-owned property with immense potential. Act now and turn your vision into reality!

Details

Property type

Mixed Use

Est. home value

$1,779,494

Lot size

6,252 sq ft

Price per sq ft

$417

Year built

1908

HOA

No

Price History

02/19/2025
CRMLS

CRMLS #SR25035613

Listed
$1,450,000
+3.57%
06/08/2024
CRMLS

CRMLS #SR24044302

Removed
$1,400,000
03/05/2024
CRMLS

CRMLS #SR24044302

Listed
$1,400,000
-1.41%

Schools & Community

Neighborhood: 

Koreatown

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Sidewalks

High school district: 

Los Angeles Unified

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Robert S Lee Etal

Loan start date

February 2022

Original loan amount

$150,000

Est. remaining balance

Not provided

Interest rate

3.05%

Loan type

Commercial

Seller

Online Edugo Inc and Red Roof Inc

Lender

Open Bank

Loan start date

August 2021

Original loan amount

$1,140,000

Est. remaining balance

Not provided

Interest rate

2.98%

Loan type

Commercial

Seller

Online Edugo Inc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 02/22/2025 at 10:40 AM

Listing updated: 02/19/2025 at 6:00 AM

Listed by: Seung Soo "Eric" Min, Dream Realty & Investments, Inc.Dream Realty & Investments, Inc. Phone #: (213) 380-8949

MLS: CRMLS #SR25035613

CRMLS logo

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