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    2375 W 12Th St

    Los Angeles, CA 90006
    • $2,880,000
    • STATUS: Active
    • ON SITE: 58 days
    • MLS #: 20-673806
    UPDATED: 170 min ago
    $2,880,000
    • 11
      BEDS
    • 0.32
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,306
      SQFT
    • $234
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:
    Area:

    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 the Combined LA/Westside Multiple Listing Service as of 2021-02-24T23:42:34.077. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.jelmbergteam.com/homes/112887750
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    2375 W 12Th St Los Angeles, CA 90006

    • Price: $2,880,000
    • Status: Active
    • Updated: 170 min ago
    • MLS #: 20-673806
    11
    Beds
    0
    Baths
    0
    ½ Baths
    0.32
    Acres
    12,306
    SQFT
    $234
    $/SQFT
    1923
    Built
    Neighborhood:
    Mid-Wilshire
    County:
    Los Angeles
    Area:
    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 Levels Two Lot Size Area 13999 Other Structures None Parking Garage None Pool Description None Pool YN No Roof Flat Spa None Spa YN No Tennis Court None Total Parking 11 Water Frontage None

    Interior Features

    Baths Total 11.00 Common Walls Attached Cooling Window Unit(S) Equipment None Foundation Details Slab Heating Forced Air Laundry None Water Heater Features Gas

    Property Features

    Assessed Total Value 357833 Gross Income 151704 Gross Operating Income 141153 Like Units1 1 Like Units2 6 Like Units3 4 Net Operating Income 69537.00 Number Of Buildings 1 Number Of Units 11 Owner Pays Water Sale Type Standard Security Features Gated Source Living Area Assessor Source Lot Size Area Vendor Enhanced Tenant Pays GasElectricity Total Annual Expense 77615 Type Of Units Multi-Family Water Public Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lar4

    Listing provided courtesy of Edward Pan DRE#01894476 of Colliers International Greater Los Angel.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-02-24T23:42:34.077. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Palm Desert CA, 92211