2694 James M Wood Boulevard

Los Angeles , CA 90006

MLS#: 25583153

$1,950,000

Status: Active
Listing number: 25583153
Listing provided by: Marcus & Millichap
Listing agent phone: None
Last update: 7 hours ago
New on site 1 day ago
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Property

Beds

3

Full Baths

None

1/2 Baths

None

Year Built

1906

Sq.Footage

3,399

8-unit building cash flowing at a 5.5% Cap Rate from day 1 with upside to a 7.1% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 10.6% Current Cap Rate, 11.8% Proforma Cap, and only 164k/unit after taking into account all the construction costs (~680k assuming $250/SF). Large 6,770 SF R4 Lot with TOC Tier 3 designation for future development potential. 5 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, and more. Prime Koreatown location just minutes away from the Wilshire/Vermont Metro station as well as many hip neighborhood attractions, restaurants, bars, and shops such as The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-unit luxury high-rise development) and many more.

Features & Amenities

Interior

  • Total Bedrooms

    3

  • Bathrooms

    N/A

Exterior

  • Garage

    No

  • Parking

    Unassigned

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    0.1549

  • Property Type

    Residential Income

Price

  • Sales Price

    $1,950,000

  • Sq. Footage

    3, 399

  • Price/SqFt

    $573

HOA

  • Association

    NO

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Senior Community YN

    NO

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Location

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Los Angeles

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Listing Courtesy of Jason Tuvia , Marcus & Millichap

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8-unit building cash flowing at a 5.5% Cap Rate from day 1 with upside to a 7.1% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 10.6% Current Cap Rate, 11.8% Proforma Cap, and only 164k/unit after taking into account all the construction costs (~680k assuming $250/SF). Large 6,770 SF R4 Lot with TOC Tier 3 designation for future development potential. 5 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, and more. Prime Koreatown location just minutes away from the Wilshire/Vermont Metro station as well as many hip neighborhood attractions, restaurants, bars, and shops such as The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-unit luxury high-rise development) and many more.

2694 James M Wood Boulevard

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