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Prime Development Opportunity in Koreatown Adjacent R3 Zoning! Located in a rapidly developing area near Koreatown, this R3-zoned property sits on a spacious 7,505 sqft lot, making it an ideal candidate for redevelopment or a lucrative rental investment. Surrounded by large apartment complexes and offering easy access to major freeways, this location provides exceptional convenience and strong demand for housing. The property currently consists of three income-generating units: Unit #1: 4BR/2BA $3,200/month (Front Unit) Unit #2: 2BR/1BA $1,255/month (Second Floor) Unit #3: 1BR/1BA $1,890/month (First Floor). Additional features include two garages plus six additional parking spaces, providing ample parking options for tenants or future development plans. Totaling $6,345/month in rental income, this investment presents immediate cash flow while offering tremendous potential for future development. With ongoing city redevelopment efforts in nearby Hollywood and Koreatown, plus Metro expansion improving accessibility, this location is poised for continued growth. Don't miss this rare opportunity to capitalize on a prime LA property with endless possibilities! Buyer to verify all zoning and development potential.
Property Type(s):
Residential Income
| Last Updated | 3/11/2025 | Year Built | 1922 |
|---|---|---|---|
| Community | Mid-Wilshire | County | Los Angeles |
Additional Details
| APPLIANCES | Dishwasher, Disposal, Dryer, Gas Cooktop, Refrigerator, Washer |
|---|---|
| AREA | Mid-Wilshire |
| CONSTRUCTION | Stucco |
| GARAGE | Garage, Yes |
| HEAT | Natural Gas |
| LOT | 7507 sq ft |
| PARKING | Garage |
| POOL DESCRIPTION | See Remarks |
| SEWER | Other |
| STORIES | 2 |
| STYLE | Contemporary |
| VIEW | Yes |
| VIEW DESCRIPTION | Mountain(s) |
| ZONING | LAR3 |
Location
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Listed with Keller Williams Larchmont
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