$3,300,000
$3,495,000
5.6%For more information regarding the value of a property, please contact us for a free consultation.
12,015 SqFt
SOLD DATE : 11/12/2021
Key Details
Sold Price $3,300,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,015 sqft
Price per Sqft $274
MLS Listing ID 21761044
Sold Date 11/12/21
HOA Y/N No
Year Built 1954
Lot Size 0.260 Acres
Acres 0.26
Property Description
We are pleased to present for sale this incredible development and/or Multi-Family opportunity in prime Koreatown! The property is strategically located 3 blocks north of famous Wilshire Blvd and on a corner lot on 4th Street and Normandie. It is situated on 11,130 Square Feet of Land and zoned R4-2 with a Tier 3 TOC Designation. This beautifully constructed 14 unit mid-century garden style apartment is poised for an astute investor looking to increase rents with 26% up-side potential OR achieve healthy returns while entitling for development of 47 Units by utilizing LA City's TOC program. 1 Unit is vacant and will be delivered as such. Buyer to conduct any/all due diligence pertaining but not limited to the development feasibility. Soft Story Retrofit Required. Email for OM. Please do not walk on the property or disturb tenants - drive by only.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Fireplace No
Exterior
Garage Carport
Parking Type Carport
Total Parking Spaces 11
Building
Story 2
New Construction No
Others
Senior Community No
Tax ID 5502001001
Special Listing Condition Standard
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Bought with Thomas Yong Kim • Apple Tree Realty
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CEO | DRE# SA695240000 | DRE# 02100184