$1,950,000
$45K PRICE DROP

Estimated payment $12,627/month

Total Views 819
3 Beds
8 Baths
3,399 Sq Ft
$574 Price per Sq Ft

About This Home

Price Reduction! 8-unit building cash flowing at a 5.5% Cap Rate from day 1 with upside to a 7.1% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 10.6% Current Cap Rate, 11.8% Proforma Cap, and only 164k/unit after taking into account all the construction costs (~680k assuming $250/SF). Large 6,770 SF R4 Lot with TOC Tier 3 designation for future development potential. 5 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, and more. Prime Koreatown location just minutes away from the Wilshire/Vermont Metro station as well as many hip neighborhood attractions, restaurants, bars, and shops such as The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-unit luxury high-rise development) and many more.

Listing Agent

Kian Maronde

Marcus & Millichap License #01952189 Listed on: 06/25/2025

Co-Listing Agent

Jason Tuvia

Marcus & Millichap License #01772495

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1906

Lot Details

  • 6,771 Sq Ft Lot

Home Design

  • Split Level Home

Interior Spaces

  • 3,399 Sq Ft Home
  • 2-Story Property
  • Built-In Features

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 8 Bathrooms

Parking

  • 9 Parking Spaces
  • Uncovered Parking

Utilities

  • Window Unit Cooling System
  • Heating System Mounted To A Wall or Window

Community Details

  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 5077-028-002

Property Details

Home Type

Multi-Family

Year Built

Built in 1906

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Multi/Split
  • Street Number Display: Yes
  • Living Area: 3399
  • Lot Acreage: 0.1549
  • Stories: 2
  • Year Built: 1906
  • Number Of Photos: 25
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 3
  • Total Bathrooms: 8.00
  • Equipment: Built-Ins
  • Price Per S Q F T: 573.70

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Uncovered
  • Total Parking: 9

Utilities

  • Cooling: Window Unit(s)
  • Heating: Wall Electric

Lot Info

  • Assessed Improvement Percent: 14.29
  • Assessed Improvement Value: 156060
  • Assessed Land Percent: 85.71
  • Assessed Land Value: 936360
  • Total Assessed Value: 1092420
  • Assessor Parcel Number: 5077-028-002
  • Lot Size Area: 6771

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113
  • Gross Rent Multiplier: 12.25
  • Number Of Units: 8
  • Total Annual Expense: 47076
  • Type Of Units: Multifamily
  • Vacancy Rate: 3%

Map

Range of Values:

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Average Value
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/30/2025 07/30/25 Price Changed $1,950,000 -2.3% $574 / Sq Ft
06/25/2025 06/25/25 For Sale $1,995,000 +90.0% $587 / Sq Ft
09/29/2021 09/29/21 Sold $1,050,000 -14.3% $309 / Sq Ft
08/23/2021 08/23/21 For Sale $1,225,000 -- $360 / Sq Ft
Source: The MLS

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Source: The MLS

MLS Number: 25556971

The MLS

APN: 5077-028-002