NOT LISTED FOR SALE

821 S Wilton Place Los Angeles, CA 90005

Koreatown Neighborhood
1 Bed
21 Baths
10,786 Sq Ft
8,999 Sq Ft Lot

Last Sold June 06, 2024

Last sale price $3,725,000 $345 Per Sq Ft

404 Days on Market

Highlights

  • Gated Parking
  • French Architecture
  • 10 Car Garage

About This Home

As of June 2024

We are pleased to present 821 S Wilton Place, a Character French Normandy style 2-story, 20-unit value-add multi-family investment opportunity with 27%+ rental upside potential, located in the highly desirable Hancock Park adjacent submarket of Los Angeles, just west of Western Ave and south of Wilshire Blvd. Built in 1938, the building is comprised of 19 studios and 1 (1+1) units that average approximately 540+ gross square feet. Additionally, there are two non-conforming/bonus units in the basement, affording an investor the flexibility to capitalize on the potential addition of accessory dwelling units (ADU). The 10,786 square foot structure is situated on an 8,999 square foot LAR3 zoned lot. The property includes a rear backyard featuring mature pine trees, providing ample shade to this outdoor common area. There are 10 individual parking spots (with space to add bicycle and motorcycle parking) in the garage located below the building. The building's units feature large windows and include much of the original, colorful tile in the bathroom's stall showers and floor, and 11 of the units maintain hardwood flooring throughout. The property is separately metered for gas and electric, and there is a common area laundry room and master water heater in the basement. With a Walk Score of 84, the property's Hancock Park adjacent location, near the Wilshire Blvd and Western Ave intersection and 0.6 miles from the Wilshire/Western Metro Station, offers residents easy access to the countless shopping, dining, entertainment, and recreation options of Koreatown, Larchmont Village, Wilshire Center, Mid-Wilshire, and the revitalized Downtown Los Angeles less than 4 miles to the east. The building is 1.35 miles north of the 10 freeway, 2 miles south of the 2 and 101, and 3 miles northwest of the 110. 821 S Wilton Pl is well-positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.

Last Agent to Sell the Property

Matthew Kanner

Keller Williams Realty Los Feliz License #01349203 Listed on: 04/28/2023

Keller Williams Realty Los Feliz

Last Buyer's Agent

Matthew Kanner

Keller Williams Realty Los Feliz License #01349203 Listed on: 04/28/2023

Keller Williams Realty Los Feliz

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1938

Lot Details

  • 8,999 Sq Ft Lot
  • Lot Dimensions are 60x150

Parking

  • 10 Car Garage
  • Gated Parking

Home Design

  • French Architecture

Interior Spaces

  • 10,786 Sq Ft Home
  • 2-Story Property
  • Laundry in Garage

Kitchen

  • Oven or Range
  • Freezer

Bedrooms and Bathrooms

  • 1 Bedroom
  • 21 Bathrooms

Utilities

  • Heating System Mounted To A Wall or Window

Community Details

  • 20 Units
  • Laundry Facilities
  • Rent Control

Listing and Financial Details

  • Assessor Parcel Number 5092-012-004

Property Details

Home Type

Multi-Family

Year Built

Built in 1938

Lot Details

0

Parking

10

Listing Details

  • Property Type: Residential Income
  • Style: French Normandy
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 10786
  • Lot Acreage: 0.2066
  • Lot Dimensions: 60x150
  • Stories: 2
  • Year Built: 1938
  • Number Of Photos: 17
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 1
  • Laundry: Community, Garage
  • Laundry Equipment: Own
  • Total Bathrooms: 21.00
  • Equipment: Freezer, Refrigerator, Range/Oven
  • Price Per S Q F T: 369.46

Exterior Features

  • Other Structures: None

Garage/Parking

  • Garage Spaces: 10
  • Parking Garage: Garage, Gated Underground
  • Total Parking: 10

Utilities

  • Heating: Wall Gas

Lot Info

  • Assessed Improvement Percent: 42.45
  • Assessed Improvement Value: 478339
  • Assessed Land Percent: 57.55
  • Assessed Land Value: 648521
  • Total Assessed Value: 1126860
  • Assessor Parcel Number: 5092-012-004
  • Lot Size Area: 8999

Rental Info

  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 12.11
  • Number Of Units: 20
  • Rent Control: 100
  • Total Annual Expense: 109091
  • Type Of Units: 0+1, 1+1
  • Vacancy Rate: None

Range of Values:

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Average Value
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List Price
Sold Price
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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
06/06/2024 06/06/24 Sold $3,725,000 -6.5% $345 / Sq Ft
06/05/2024 06/05/24 Pending -- -- --
10/17/2023 10/17/23 Price Changed $3,985,000 -0.4% $369 / Sq Ft
04/28/2023 04/28/23 For Sale $4,000,000 -- $371 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Matthew Kanner

    Seller's Agent in 2024

    Matthew Kanner

    Keller Williams Realty Los Feliz

    (323) 300-1000

    4 in this area

    18 Total Sales

    Matthew Kanner
    Section Image
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Map

Source: The MLS

MLS Number: 23-265294

The MLS

California Los Angeles County Los Angeles 90005 Koreatown

821 S Wilton Place, Los Angeles, CA

This home is located at 821 S Wilton Place, Los Angeles, CA 90005 since 28 April 2023. This property was built in 1938. 821 S Wilton Place is a home located in Los Angeles County with nearby schools including Wilton Place Elementary School, John Burroughs Middle School, and Los Angeles Senior High School.

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