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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 Koreatown Westlake Border Built 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.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
4040 Barranca Pkwy # 150, Irvine, California, 92604, USA