2025 W 3rd Street, Los Angeles, CA 90057
List Price: $13M
Listing Status: Active
0Days on Market: 24
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Year Built: 1961
Lot Size: 39,907 sq ft
MLS Number: SR26162855
About This Property
The iconic Royal Viking — a 62-unit Westlake mixed-use value-add: 59 efficiency studios plus 3 ground-floor commercial spaces, fully gut-renovated in 2024 with 21 newly built units and all residential units registered and legal with LAHD. Offered at a 6.68% in-place cap rising to a 7.27% pro forma on all-charges income (rents, parking, laundry and utility reimbursement). Rare rent flexibility: 7 non-rent-controlled units plus an active legacy hotel license for short-term / hospitality optionality. Amenities include 47 on-site parking spaces, a pool and a resort-style roof deck. Sited on a large +/-39,907 SF (0.92-acre) R4-1/C2-1 transit-adjacent parcel — significant long-term density, ADU and redevelopment upside beyond the 19,995 SF of improvements. Additional upside through commercial lease-up, studio mark-to-market and full parking utilization. Steps to the Metro B/D lines. A rare combination of in-place cash flow, operational flexibility and development optionality in supply-constrained Westlake.
Listing provided by: Logan Altman DRE #01965826 310-903-0222 logan@altmanapartments.com, Altman Apartments LLC
Source: CRMLS, MLS #: SR26162855
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.