Active
927 S Ardmore Ave
Los Angeles CA, 90006
$4,980,000
$124.50 per sqft
Active
40,000 sqft
Residential
Built in 1922
Take a part of the ever growing Koreatown rental market! We are pleased to showcase this exceptional opportunity to become either an Investor or a Developer. Encompass of 2 lots totaling 13,534 square feet of prime Koreatown land. OPTION # 1 : For THE INVESTORS in search of an opportunity to expand their real estate portfolio, we offer the buyers the ability to immediately renovate, design, and lease the existing 8 units (1 studio, 5 of 1 bed & 1 bath units and 2 of 2 bed & 1 bath units) and Single Family Home with a detached garage that can be converted to an ADU for extra income. PROFORMA MONTHLY RENTAL INCOME: Studio $1,700 * 1bed + 1 bath $2,200 * 2 bed + 1bath $2,800 * SFR $7,500 + $2,500 for Possible ADU. In exchange, the property is forecasted to attain a 5.11% cap rate, $339,600 GRI and 14.66% GRM post-renovation. Delivered 100% Vacant. OPNTION # 2 : For THE DEVELOPERS, the Property will be delivered with RTI Permits to acquire a 54-unit, seven-story development project with RTI(Ready to Issue) plans. The proposed development spans an impressive 40,000 square feet and comprises 54 units, R4-1 Zoning, TOC Tier 3. Delivered 100 % Vacant.
24-367837
MLSⓇ ID
March 13, 2024
Listed
April 13, 2024
Updated
Map
927 S Ardmore Ave
Los Angeles CA, 90006
Interior Features
Total Stories
7
Appliances
None
Laundry Description
In Unit
Fireplace
No
Cooling
Yes
Cooling Description
Air Conditioning
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.31 Acres
Other Property Details
Area Name
Mid-Wilshire
Days on Market
30
Garage
No
Parking
Assigned
Parking Total
50
View
No
County
Los Angeles
Pool
No
Zoning
LAR4
Listed by Jina Hee Chon with NEOZIPS, Inc.
Listing Contact: 213-505-4900
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Eve Capital shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 4/13/2024