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    2375 W 12Th Street

    Los Angeles (City), CA 90006
    • $2,880,000
    • STATUS: Active
    • ON SITE: 18 days
    • MLS #: 20673806
    UPDATED: 57 min ago
    $2,880,000
    • 0
      BEDS
    • 0.32
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,306
      SQFT
    • $234
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:

    School Ratings & Info

    Description

    We are pleased to present for sale 2375 W 12th Street, an 11-Unit multi-family apartment located in the Koreatown neighborhood of Los Angeles California, bordering Downtown. The property is a two story, garden style apartment building with parking and storage in the rear. The building totals12,306 rentable square feet situated on an approximately 13,999square foot corner lot. Originally built in 1923, this apartment is being offered for the very first time on market within the past 20 years. The rents at this property are approximately 40% below market rates due to long term tenants. With updated market rents, the property has the potential to achieve a 5.07% CAP rate. This apartment building is conveniently located within minutes to downtown Los Angeles and the center of Koreatown. In addition, this property is an ideal candidate for redevelopment* due to its R4-01 zoning, in the Transit Priority Area in the City of Los Angeles. * = Buyer should complete the

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-16T17:29:15.707. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.

    www.desertareahomesforsale.com/homes/112888631
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    2375 W 12Th Street Los Angeles (City), CA 90006

    • Price: $2,880,000
    • Status: Active
    • Updated: 57 min ago
    • MLS #: 20673806
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.32
    Acres
    12,306
    SQFT
    $234
    $/SQFT
    1923
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    We are pleased to present for sale 2375 W 12th Street, an 11-Unit multi-family apartment located in the Koreatown neighborhood of Los Angeles California, bordering Downtown. The property is a two story, garden style apartment building with parking and storage in the rear. The building totals12,306 rentable square feet situated on an approximately 13,999square foot corner lot. Originally built in 1923, this apartment is being offered for the very first time on market within the past 20 years. The rents at this property are approximately 40% below market rates due to long term tenants. With updated market rents, the property has the potential to achieve a 5.07% CAP rate. This apartment building is conveniently located within minutes to downtown Los Angeles and the center of Koreatown. In addition, this property is an ideal candidate for redevelopment* due to its R4-01 zoning, in the Transit Priority Area in the City of Los Angeles. * = Buyer should complete the
    Exterior Features

    Direction Faces South Foundation Details Slab Lot Size Units Square Feet Parking Features None Parking YN No Pool Features None Pool Private YN No Spa Features None Spa YN No

    Interior Features

    Heating Forced Air Heating YN Yes Laundry Features None Levels Two

    Property Features

    Country Us Financial Info As Of 2020-12-31 00:00:00 Gross Income 151704.00 Gross Multiplier 18.98 Gross Operating Income 141153.00 Laundry YN No Net Operating Income 69537.00 Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Taxes Percent 1.20 Tenant Pays GasElectricity Total Expenses 77615.00 Vacancy Allowance Rate 0.00 Zoning Lar4

    Listing provided courtesy of Edward Pan of Colliers International Greater Los Angel


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-16T17:29:15.707. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.

     
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