2375 W 12th St, Los Angeles, CA 90006 – 24-457491

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$2,550,000

Est. payment - /mo

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10 BD

11 BA

12,306 SqFt

Active

2375 W 12th St Los Angeles, CA 90006

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

11/05/2024 07:01 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 12,306 sqft

Price per Sqft $207

MLS Listing ID 24-457491

Bedrooms 10

Year Built 1923

Lot Size 0.321 Acres

Acres 0.3215

Property Description

We are pleased to exclusively present 2375 W 12th Street, an 11-Unit multi-family apartment located in the Koreatown neighborhood of Los Angeles California, bordering Downtown. This value-add investment opportunity offers significant upside potential in a prime Southern California rental market. Constructed in 1923, the two-story building comprises a mix of spacious units, including one studio, six one-bedroom/one-bath units, and four two-bedroom/one-bath units, totaling 12,306 rentable square feet. The property sits on a prominent 13,999 square foot corner lot and includes key amenities such as an on-site laundry facility and parking garages. With current rents over 70% below market value, this property provides investors with a significant opportunity to increase rental income. The potential to achieve a Pro Forma CAP rate of over 8.5% makes this asset particularly attractive. Additional income growth may also be realized through the potential addition of accessory dwelling units (ADUs), subject to buyer verification and city approval. Strategically located just minutes from Downtown Los Angeles and the heart of Koreatown, the property enjoys proximity to major business districts, popular retail outlets, restaurants, and grocery stores. It also benefits from excellent connectivity, with quick access to the 110 and 10 freeways and several public transportation options within Koreatown. The property is further distinguished by its R4-01 zoning and designation within a Transit Priority Area, making it an ideal candidate for redevelopment. This presents an exciting opportunity for long-term investors looking to maximize returns in one of Los Angeles' most vibrant and high-demand areas.

Location

State CA

County Los Angeles

Area Mid-Wilshire

Zoning LAR4

Rooms

Other Rooms None

Interior

Heating Forced Air

Cooling Window Unit(s)

Equipment Range/Oven

Exterior

Parking Features Garage Is Detached, Driveway

Garage Spaces 11.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Colliers International Greater Los Angel