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Amazing investment opportunity at 1215 Elden Ave! This multifamily property features 7 units across two well maintained buildings, including a front building with 6 x 1 Bed+1 Bath units and a spacious 6-bed + 6-bath single-family residence in the back. The back single-family home has been extensively rebuilt from the ground up with new engineering design and permits completed in 2017/2018. The front building electrical wiring installed in 2015, and 4 out of the 6 units have been beautifully remodeled in 2017/2018. With a gross operating income of approximately $164K and a NOI of $111K, this property offers a solid 5.7% CAP rate and 11.9 GRM, showcasing strong income potential with significant upside and value-add opportunities. Situated in the prime Koreatown area, residents will enjoy a vibrant neighborhood filled with trendy restaurants, nightlife, and easy access to public transportation.
Property Type(s):
Residential Income
| Last Updated | 11/12/2024 | Year Built | 1908 |
|---|---|---|---|
| Community | Mid-Wilshire | County | Los Angeles |
Price History
| Prior to Nov 12, '24 | $1,950,000 |
|---|---|
| Nov 12, '24 - Today | $1,850,000 |
Additional Details
| AIR | Central Air, Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Dryer, Microwave, Refrigerator, Washer |
| AREA | Mid-Wilshire |
| CONSTRUCTION | Stucco |
| GARAGE | Concrete, One Space |
| HEAT | Central, Wall Furnace |
| LOT | 7503 sq ft |
| LOT DIMENSIONS | 50x150 |
| PARKING | Concrete,One Space |
| SEWER | Other |
| STORIES | 2 |
| STYLE | Cape Cod |
| ZONING | LAR4 |
Location
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Listed with Keller Williams Beverly Hills
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