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2629 San Marino St

Los Angeles, CA 90006
  • $1,395,000
  • STATUS: Active
  • ON SITE: 38 Days
  • ID#: 21-797924
UPDATED: 34 min ago
$1,395,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:
Area:

School Ratings & Info

Description

Promising residential-redevelopment opportunity in the heart of Koreatown/Westlake. The offering consists of 6,750 SF (Tier 2) R4-1 Lot which allows you to build 16 units by right and 29 units by TOC. The current improvements consist of a 4 unit building totaling 4,680 square feet of living space which can provide cash flow during the entitlement process. Excellent value, priced at only $298/SF. Incredible upside to Proforma Cap Rate of 6.8% and GRM of 11.6. Plans to add 2 detached ADUs in the back to improve numbers further. The property is centrally located just 1.5 miles West of LA Live, Staples Center, and 2 miles North of the USC campus. Located just a few blocks South Wilshire Blvd., in proximity to the 110 and 10 fwys, and in a walker paradise (97 walking score). This is an opportunity that cannot be missed! Please see Financials & Preliminary ADU Plans in the Docs section.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-11-29T11:42:39.227. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.theparsonsrealestateteam.com/homes/122651600
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2629 San Marino St Los Angeles, CA 90006

  • Price: $1,395,000
  • Status: Active
  • On Site: 38 Days
  • Updated: 34 min ago
  • ID#: 21-797924
0
Beds
0
Baths
0
½ Baths
0.16
Acres
Neighborhood:
Mid-Wilshire
County:
Los Angeles
Area:
Mid-Wilshire
Property Description
Promising residential-redevelopment opportunity in the heart of Koreatown/Westlake. The offering consists of 6,750 SF (Tier 2) R4-1 Lot which allows you to build 16 units by right and 29 units by TOC. The current improvements consist of a 4 unit building totaling 4,680 square feet of living space which can provide cash flow during the entitlement process. Excellent value, priced at only $298/SF. Incredible upside to Proforma Cap Rate of 6.8% and GRM of 11.6. Plans to add 2 detached ADUs in the back to improve numbers further. The property is centrally located just 1.5 miles West of LA Live, Staples Center, and 2 miles North of the USC campus. Located just a few blocks South Wilshire Blvd., in proximity to the 110 and 10 fwys, and in a walker paradise (97 walking score). This is an opportunity that cannot be missed! Please see Financials & Preliminary ADU Plans in the Docs section.
Exterior Features

Lot Size Area 6750 View Description City View YN Yes

Property Features

Cable YN Yes Sale Type Standard Source Lot Size Area Vendor Enhanced Zoning Lar4

Listing provided courtesy of Armin Soleimani DRE#01846872 of Global Platinum Properties, Inc..


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-11-29T11:42:39.227. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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The Parsons Team | Keller Williams Realty
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Pasadena CA, 91101