Seller financing available! We are pleased to exclusively present 2375 W 12th Street, an 11-Unit multi-family apartment located in the Koreatown neighborhood of Los Angeles California, bordering Downtown. This value-add investment opportunity offers significant upside potential in a prime Southern California rental market. Constructed in 1923, the two-story building comprises… Read More a mix of spacious units, including one studio, six one-bedroom/one-bath units, and four two-bedroom/one-bath units, totaling 12,306 rentable square feet. The property sits on a prominent 13,999 square foot corner lot and includes key amenities such as an on-site laundry facility and parking garages. With current rents over 70% below market value, this property provides investors with a significant opportunity to increase rental income. The potential to achieve a Pro Forma CAP rate of over 8.5% makes this asset particularly attractive. Additional income growth may also be realized through the potential addition of accessory dwelling units (ADUs), subject to buyer verification and city approval. Strategically located just minutes from Downtown Los Angeles and the heart of Koreatown, the property enjoys proximity to major business districts, popular retail outlets, restaurants, and grocery stores. It also benefits from excellent connectivity, with quick access to the 110 and 10 freeways and several public transportation options within Koreatown. The property is further distinguished by its R4-01 zoning and designation within a Transit Priority Area, making it an ideal candidate for redevelopment. This presents an exciting opportunity for long-term investors looking to maximize returns in one of Los Angeles' most vibrant and high-demand areas. Read Less
Courtesy of Colliers International Greater Los Angel 949-724-5500
Listing Snapshot
Days Online
220
Last Updated
Property Type
Other
Beds
10
Square Ft.
12,306
Lot Size
0.32 Acres
Year Built
1923
MLS Number
24-457491
30 Days Snapshot Of 90006
$810k
0%
(avg) sold price
52
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Range/Oven
Building
12,306 sq ft, Built in 1923, Levels: Two
Cooling
Window Unit(s)
Disclosures
None
Garage
Garage Is Detached, Driveway
Heating
Forced Air
Lot
LotAcreage: 0.3215, LotSizeArea: 14,003
Parking
TotalParking: 11
Property
NumberOfUnits: 11, Zoning: LAR4
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