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8-unit building cash flowing at a 5.35% Cap Rate from day 1 with upside to almost a 7% Cap on Proforma! Preliminary plans to add 8 detached ADUs in the back parking lot to achieve an incredible 10.4% Current Cap Rate, 11.6% Proforma Cap, and only 167k/unit after taking into account all the construction costs (~680k assuming $250/SF). Large 6,770 SF R4 Lot with TOC Tier 3 designation for future development potential. 5 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, and more. Prime Koreatown location just minutes away from the Wilshire/Vermont Metro station as well as many hip neighborhood attractions, restaurants, bars, and shops such as The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-unit luxury high-rise development) and many more.
Property Type(s):
Residential Income
| Last Updated | 6/25/2025 | Year Built | 1906 |
|---|---|---|---|
| Community | C17 - Mid-Wilshire | County | Los Angeles |
Additional Details
| AREA | C17 - Mid-Wilshire |
|---|---|
| LOT | 6769 sq ft |
| STORIES | Split/Multi Level |
Location
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Listed with Marcus & Millichap
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