2553 W 12TH Street

    Los Angeles (City), CA 90006
    • $1,350,000
    • STATUS: Active
    • ON SITE: 39 days
    • ID#: 19467024
    UPDATED: 70 min ago
    $1,350,000
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,120
      SQFT
    • $328
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:

    School Ratings & Info

    Description

    NEW UPDATE - 6 out of 7 now vacant, bringing GRM to 11.08 and Cap Rate to 6.47%This 7* unit property is comprised of two separate buildings. 4 of the units are nonconforming; however, there have been previously approved plans that will be available upon request. The first building is a one story building with a 3 Bed / 1 Bath and two Studios totaling up to 1820 SF. The second building is a two-story building with four 1 Bed / 1 Baths totaling up to 2300 SF. 6 of the 7 units are vacant. A savvy investor will be able to achieve instant upside. The property is zoned R4-1VL, TOC Tier 3, and is within an opportunity zone. The TOC density bonus of 70% allows more units to be built in that location. The property could be developed if desired. All plans & permits are solely for informational purposes. Buyer to verify all information and do their own due diligence with the City of Los Angeles.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-25T00:36:54.86. 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/94895089

    2553 W 12TH Street Los Angeles (City), CA 90006

    • Price: $1,350,000
    • Status: Active
    • Updated: 70 min ago
    • ID#: 19467024
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    4,120
    SQFT
    $328
    $/SQFT
    1923
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    NEW UPDATE - 6 out of 7 now vacant, bringing GRM to 11.08 and Cap Rate to 6.47%This 7* unit property is comprised of two separate buildings. 4 of the units are nonconforming; however, there have been previously approved plans that will be available upon request. The first building is a one story building with a 3 Bed / 1 Bath and two Studios totaling up to 1820 SF. The second building is a two-story building with four 1 Bed / 1 Baths totaling up to 2300 SF. 6 of the 7 units are vacant. A savvy investor will be able to achieve instant upside. The property is zoned R4-1VL, TOC Tier 3, and is within an opportunity zone. The TOC density bonus of 70% allows more units to be built in that location. The property could be developed if desired. All plans & permits are solely for informational purposes. Buyer to verify all information and do their own due diligence with the City of Los Angeles.
    Exterior Features

    Lot Size Units Square Feet

    Interior Features

    Cooling None Cooling YN No Laundry Features Gas Dryer Hookup

    Property Features

    Cap Rate 6.47 Gross Multiplier 11.08 Gross Operating Income 121836.00 Improvements Amount 59328 Land Value 143269 Laundry YN Yes Net Operating Income 87306.00 Special Listing Conditions Standard Total Expenses 34530.00 Zoning Lar4

    Listing provided courtesy of Stephen F. Watson of Keller Williams Downtown La and Michael R. Fukushima of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-25T00:36:54.86. 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