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$ 2,350,000
Est. payment | /mo
10 Beds
11 Baths
12,306 SqFt
$ 2,350,000
Est. payment | /mo
10 Beds
11 Baths
12,306 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 12,306 sqft
Price per Sqft $190
MLS Listing ID 25600503
Bedrooms 10
HOA Y/N No
Year Built 1923
Lot Size 0.321 Acres
Property Description
2375 W 12th St | 11-Unit Multifamily at the KoreatownWestlake BorderBuilt in 1923, the property consists of a well-balanced mix of (4) 2-bed/1-bath, (6) 1-bed/1-bath, and (1) studio unit, totaling 12,306 SF on a 13,999 SF LAR4 lot (~$167 land PSF). The building is fully occupied, producing $157,584 in annual income, with market rents supporting up to $275,490 annually a $117K+ upside. Priced at $2,350,000 (~$214K per unit / $191 per SF), the asset offers a 3.44% current cap rate and an 8.01% pro forma cap rate, with stable cash flow today and a clear path to higher returns. Six on-site parking spaces further strengthen tenant demand and revenue potential in a dense submarket where parking is limited. Property gets $450 per month from garages and $200 per month from Laundry.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Heating None
Cooling None
Fireplace No
Exterior
Total Parking Spaces 6
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5076012009
Special Listing Condition Standard
Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc.
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Jorge Alvarez
REALTOR® | Lic# 02047054