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Jenarda Makupson

jenarda@kingdomkeysrealty.net +1(818) 200-5538

$ 2,900,000

Est. payment | -/mo

12 Beds

12 Baths

7,472 SqFt

Save

$ 2,900,000

Est. payment | -/mo

Save

12 Beds

12 Baths

7,472 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 7,472 sqft

Price per Sqft $388

MLS Listing ID 26747731

Bedrooms 12

HOA Y/N No

Year Built 1950

Lot Size 8,703 Sqft

Property Description

***MAJOR PRICE REDUCTION. Exceptional Koreatown LAR5 / Tier 3 TOC development opportunity. New pricing creates compelling value for developers, investors, and value-add buyers in one of LA's strongest high-density growth corridors.*** Prime Koreatown LAR5-zoned property with Tier 3 TOC designation ideal for high-density multifamily, mixed-use, or future condo/hotel development. 11-unit income-producing building, fully occupied, generating $13,640.88/month in actual rents ($163,690.56 annually). Cap rate ~2% | GRM 23.82 this is a land-value and entitlement play, not a cash-flow asset. Flat 8,700 SF lot with potential for 26,000 buildable SF by right (buyer to verify).No Ellis Act or tenant buyouts completed developers maintain full control of exit or repositioning strategy. Subject to LA Rent Stabilization (RSO); Unit 3 currently rented at $394/month under RSO. Income can support carrying costs during planning or entitlement phases. Located just blocks from Wilshire Blvd, Metro stations, and major Koreatown projects. Rare offering in a dense, high-demand corridor with limited LAR5 inventory. Not currently RTI but the flat LAR5 lot and Tier 3 zoning make it a candidate for streamlined entitlement.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR5

Interior

Heating Wall Furnace

Fireplace No

Appliance Microwave, Refrigerator

Exterior

Parking Features Driveway, Uncovered

Total Parking Spaces 7

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5094007015

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Beata Mandell The Executive Realty Group #01392993

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(818) 200-5538

jenarda@kingdomkeysrealty.net

303 North Glenoaks Boulevard #255, Burbank, CA 91501, USA

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674 S Catalina ST Los Angeles, CA 90005