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2627 San Marino Street

Los Angeles (City), CA 90006
  • $1,395,000
  • STATUS: Active
  • ON SITE: 50 Days
  • ID#: 22144441
UPDATED: 21 min ago
$1,395,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1916
County:

School Ratings & Info

Listing Agent(s): Armin Soleimani of Global Platinum Properties, Inc. (818-524-0706) and Julio Ruiz of Global Platinum Properties, Inc.(818-524-0706)


Description

Promising residential redevelopment opportunity in the heart of Koreatown/Westlake. The offering consists of a 4 unit building totaling 4,680 square feet of living space. Excellent value, priced at only $298/SF. The said offering sits on a 6,750 SF (Tier 2) R4-1 Lot which allows you to build 16 units by right and 29 units by TOC. Incredible upside to Proforma Cap Rate of 6.8% and GRM of 11.6. Plans to add 2 detached ADUs in the back to improve numbers further. The property is centrally located just 1.5 miles West of LA Live, Staples Center and 2 miles North of the USC campus. Located just a few blocks South Wilshire Blvd., in proximity to the 110 and 10 fwys, and in a walker paradise (97 walking score). This is an opportunity that cannot be missed!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-28T18:29:49.88. 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 The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/127494825
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2627 San Marino Street Los Angeles (City), CA 90006

  • Price: $1,395,000
  • Status: Active
  • On Site: 50 Days
  • Updated: 21 min ago
  • ID#: 22144441
0
Beds
0
Baths
0
½ Baths
0.16
Acres
1916
Built
Neighborhood:
C17 - Mid-Wilshire
County:
Los Angeles
Area:
C17 - Mid-Wilshire
Property Description
Promising residential redevelopment opportunity in the heart of Koreatown/Westlake. The offering consists of a 4 unit building totaling 4,680 square feet of living space. Excellent value, priced at only $298/SF. The said offering sits on a 6,750 SF (Tier 2) R4-1 Lot which allows you to build 16 units by right and 29 units by TOC. Incredible upside to Proforma Cap Rate of 6.8% and GRM of 11.6. Plans to add 2 detached ADUs in the back to improve numbers further. The property is centrally located just 1.5 miles West of LA Live, Staples Center and 2 miles North of the USC campus. Located just a few blocks South Wilshire Blvd., in proximity to the 110 and 10 fwys, and in a walker paradise (97 walking score). This is an opportunity that cannot be missed!
Exterior Features

Parking Features Covered Parking Total 0

Property Features

Association Fee 0 Gross Income 35208 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 14202 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lar4



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-28T18:29:49.88. 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 The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Armin Soleimani of Global Platinum Properties, Inc. (818-524-0706) and Julio Ruiz of Global Platinum Properties, Inc.(818-524-0706)