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2861 Leeward Ave, Los Angeles, CA 90005

$2,999,000

Description

The subject property is a great 10 unit apartment complex built in 1921 and located in the prime Koreatown market of Los Angeles. Ideally situated on Leeward Avenue, in between 8th St. and Wilshire Blvd, this property is less than 5 miles from Downtown LA less than 2 miles from the renown Wiltern Theatre in Los Angeles.

This 10 unit bungalow style property is well maintained and sits on a 10,828 square foot lot with a total rentable square footage of 5,558 square feet.

Highlights:
• R4 Zoning
• TOC Tier 3
• Located in an opportunity zone
• Tremendous upside potential
• 20+ unit development opportunity by right
• Close to shops, dining, and entertainment

Property Downloads

Address

  • City: Los Angeles
  • State/county: CA
  • Country: United States

Detail

Updated on February 14, 2020 at 10:28 am

  • Price: $2,999,000
  • Property Size: 5558 Sq Ft
  • Land Area: 10828 Sq Ft
  • Year Built: 1921
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 10
  • GRM: 32.19
  • CAP RATE: 1.11%
  • Price per Unit: $299,999
  • Market GRM: 10.08
  • Market CAP RATE: 7.59%

Contact info

Dow Chang
Dow Chang
(323) 545-0164(310) 702-5501
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Lorraine Tan
Lorraine Tan
(424) 738-3771

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