Price Reduction! Well maintained 17-unit building in prime Hancock Park/Larchmont Village area cash flowing at an amazing Current Cap Rate of 5.3% from day 1 with upside to 7.5% Cap Rate on Proforma. Approved RTI plans to add 4 detached ADUs to achieve a remarkable 7% Current Cap Rate, 9.2%… Read More Proforma Cap Rate, and only 277k/door after taking into account all constructions costs (~340k assuming $250/SF). Large unit mix of 6 (2bed/2bath) units, 2 (2bed/1bath) units, and 9 (1bed/1bath) units including 3 newly-built attached ADUs. Select units have been renovated and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, stainless steel appliances, and major exterior capital improvements. Amenities include a renovated pool and courtyard with seating areas, on-site laundry facilities, secure entry, and parking for convenience. Individually metered for gas & electricity with soft-story retrofit already completed. Large 14,364 SF R3 TOC Tier 3 corner lot for future development potential. Located in the heart of Hancock Park just minutes away from Larchmont Village, Koreatown, Hollywood, and Melrose as well as many hip neighborhood attractions, restaurants, bars, and shops such as Wilshire Country Club, Paramount Studios, H Mart, Levain Bakery, Salt & Straw, and Great White, popping up all around the area. Read Less
Courtesy of Global Platinum Properties, Inc. 424-394-1030
Listing Snapshot
Days Online
55
Last Updated
Property Type
Other
Beds
25
Square Ft.
12,628
Lot Size
0.33 Acres
Year Built
1961
MLS Number
25553225
30 Days Snapshot Of 90004
$2.45M
+12%
(avg) sold price
10
+42%
homes sold
73
-33%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
12,628 sq ft, Built in 1961, Levels: Two
Cooling
Multi/Zone
Disclosures
None
Garage
Gated
Heating
Wall Electric, Electric
Lot
LotAcreage: 0.3287, LotSizeArea: 14,319
Parking
TotalParking: 8
Property
NumberOfUnits: 17, Zoning: LAR3
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