127 N Edgemont Street

    Los Angeles (City), CA 90004
    • $2,625,000
    • STATUS: Active
    • ON SITE: 40 days
    • ID#: 19464372
    Price Reduced
    UPDATED: 31 min ago
    $2,625,000
    • 0
      BEDS
    • 0.12
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,544
      SQFT
    • $348
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1927
    County:

    School Ratings & Info

    Description

    Built in 1927, this 12-unit property is located in the heart of Koreatown in a neighborhood with consistent population growth and rising rents. The two-story building features singles and one-bedrooms. One unit will be delivered vacant.This offering presents an investor the opportunity to capture 18% in rental and RUBS upside. The property is being offered at a low price per unit of $218,750 and has been well-maintained throughout the years with recent upgrades including the replacement of main electric panel and subpanels, seismic bolting and replacement of cripple walls and restoration of wood flooring in the common areas.The Koreatown neighborhood continues to gentrify at a rapid pace attracting high-end residents with unparalleled access to employment opportunities and entertainment amenities. The subject property has a walk score of 87 and the location allows for a quick commute to both Hollywood and Downtown Los Angeles.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-19T09:31:44.833. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/94596712

    127 N Edgemont Street Los Angeles (City), CA 90004

    • Price: $2,625,000
    • Status: Active
    • Updated: 31 min ago
    • ID#: 19464372
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.12
    Acres
    7,544
    SQFT
    $348
    $/SQFT
    1927
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    Built in 1927, this 12-unit property is located in the heart of Koreatown in a neighborhood with consistent population growth and rising rents. The two-story building features singles and one-bedrooms. One unit will be delivered vacant.This offering presents an investor the opportunity to capture 18% in rental and RUBS upside. The property is being offered at a low price per unit of $218,750 and has been well-maintained throughout the years with recent upgrades including the replacement of main electric panel and subpanels, seismic bolting and replacement of cripple walls and restoration of wood flooring in the common areas.The Koreatown neighborhood continues to gentrify at a rapid pace attracting high-end residents with unparalleled access to employment opportunities and entertainment amenities. The subject property has a walk score of 87 and the location allows for a quick commute to both Hollywood and Downtown Los Angeles.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Cooling See Remarks Cooling YN Yes

    Property Features

    Cap Rate 4.72 Gross Multiplier 13.78 Gross Operating Income 184761.00 Net Operating Income 123889.00 Special Listing Conditions Standard Taxes Percent 1.20 Total Actual Rent 15462.00 Total Expenses 60872.00 Vacancy Allowance Rate 3.00 Zoning R3-1

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-19T09:31:44.833. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Heller The Home Seller | Keller Williams Realty
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024