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We are pleased to present this great investment income property in the heart of Los Angeles nearby Downtown LA (LA Convention Center, Crypto.com Arena, USC) and Korea-Town (bars, restaurants, and cafes). The Mid-Wilshire area is a highly dense neighborhood with high occupancy rates. The property has 6-Units and is Zoned LAR4 for future development potential on the corner of Hoover St. and 12th St. All tenants are current on rent. This 2-story apartment is an expansive 4,032 SF on a 6,272 SF lot with 10 parking spaces. Units consist of one 3 beds and 2 baths unit, one 2 beds and 1 bath unit, two 1 bed and 1 bath units, and two studio units. Easy access to the 10, 101, and 110 freeways. The cap rate of 5.9% is based on current gross income ($114,300) and expenses with the new property tax amount at the asking price of $1,375,000.
Last Updated | 11/1/2024 | Year Built | 1906 |
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Community | Mid-Wilshire | County | Los Angeles |
Additional Details
AIR | Wall/Window Unit(s) |
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AIR CONDITIONING | Yes |
AREA | Mid-Wilshire |
GARAGE | Private, Uncovered |
LOT | 6274 sq ft |
PARKING | Private,Uncovered |
SEWER | Other |
STORIES | 2 |
ZONING | LAR4 |
Location
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