Active
927 S Ardmore Avenue
Los Angeles CA, 90006
$4,500,000
$112.50 per sqft
Active
58 Baths
40,000 sqft
Residential
Built in 1922
Listed by Jina Hee Chon with Neozips Realty, Inc. 213-505-4900
SELLER WILL ENTERTAIN ANY REASONABLE CASH OFFER! 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 7.54% cap rate, $339,600 GRI and 13.25% 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.
24367837
MLSⓇ ID
March 13, 2024
Listed
September 6, 2024
Updated
Map
927 S Ardmore Avenue
Los Angeles CA, 90006
Interior Features
Total Stories
7
Total Bathrooms
58
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.31 Acres
Other Property Details
Area Name
C17 - Mid-Wilshire
Days on Market
177
Garage
No
Parking
Assigned
Parking Total
50
View
No
County
Los Angeles
Pool
No
Zoning
LAR4
Listing History
Date | Event | Price |
|---|---|---|
9/6/2024 | Price change | $4,500,000 12% |
9/5/2024 | Price change | $3,990,000 -12% |
5/14/2024 | Price change | $4,499,000 -10% |
Listing Contact: 661-675-6000
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 9/6/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 9/6/2024 at 11:58 PM UTC