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    3901 W 4Th St

    Los Angeles, CA 90020
    • $3,495,000
    • STATUS: Active
    • ON SITE: 20 days
    • ID#: 21-761044
    UPDATED: 75 min ago
    $3,495,000
    • 14
      BEDS
    • 0.26
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,015
      SQFT
    • $291
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1954
    County:
    Area:

    School Ratings & Info

    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.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-08-03T23:42:33.353. 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/119315572
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    3901 W 4Th St Los Angeles, CA 90020

    • Price: $3,495,000
    • Status: Active
    • Updated: 75 min ago
    • ID#: 21-761044
    14
    Beds
    0
    Baths
    0
    ½ Baths
    0.26
    Acres
    12,015
    SQFT
    $291
    $/SQFT
    1954
    Built
    Neighborhood:
    Mid-Wilshire
    County:
    Los Angeles
    Area:
    Mid-Wilshire
    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.
    Exterior Features

    Lot Location Corner Lot Lot Size Area 11130 Other Structures None Parking Garage CarportGarage Is Attached Total Parking 11

    Interior Features

    Baths Total 14.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 1560050 Gross Income 249744 Gross Operating Income 242252 Like Units1 10 Like Units2 2 Like Units3 2 Net Operating Income 163002.00 Number Of Buildings 1 Number Of Units 14 Rent Control YN Yes Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 79249 Type Of Units Investment Year Built Source Vendor Enhanced Zoning Lar4

    Listing provided courtesy of Eric Dilanian DRE#01951699 of Remax Commercial And Investment Realty.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-08-03T23:42:33.353. 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
    251 S. Lake Ave #150
    Pasadena CA, 91101