2694 James M Wood Boulevard, Los Angeles, CA 90006
List Price: $1.79M
Listing Status: Active
0Days on Market: 62
3 Bedrooms · 8 Bathrooms · 3,399 sq ft
Property Type: ResidentialIncome
Year Built: 1906
Lot Size: 6,747 sq ft
MLS Number: 26782991
About This Property
Huge 200k Price Reduction! 8-unit building cash flowing at a 6.75% Cap Rate from day 1 with upside to an 8.3% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 12.1% Current Cap Rate, 13.3% Proforma Cap, and only 154k/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.
Listing provided by: Julio Ruiz DRE #01911261 424-394-1030 ziuroiluj@gmail.com, Global Platinum Properties, Inc.
Source: CRMLS, MLS #: 26782991
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