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2629 San Marino Street

Los Angeles (City), CA 90006
  • $1,395,000
  • STATUS: Active
  • ON SITE: 89 Days
  • ID#: 21797924
$1,395,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing Agent(s): Armin Soleimani of Global Platinum Properties, Inc. (818-524-0706) and Julio Ruiz of Global Platinum Properties, Inc.(818-524-0706)


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 California Regional Multiple Listing Service, Inc. as of 2022-01-19T00:25:45.64. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or CENTURY 21 Jordan-Link & Co.. Licensed in the State of California, USA.
www.century21jordanlink.com/homes/122652942
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2629 San Marino Street Los Angeles (City), CA 90006

  • Price: $1,395,000
  • Status: Active
  • On Site: 89 Days
  • ID#: 21797924
0
Beds
0
Baths
0
½ Baths
0.16
Acres
Neighborhood:
C17 - Mid-Wilshire
County:
Los Angeles
Area:
C17 - 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

Parking Total 0 View City Lights View YN Yes

Property Features

Association Fee 0 Listing Agreement Seller Reserved Listing Service Full Service Senior Community YN No Special Listing Conditions Standard Zoning Lar4



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-01-19T00:25:45.64. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or CENTURY 21 Jordan-Link & Co.. Licensed in the State of California, USA.
 
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CENTURY 21 Jordan-Link & Co.
2009 West Feemster Avenue
Visalia CA, 93277
Listing Agent(s): Armin Soleimani of Global Platinum Properties, Inc. (818-524-0706) and Julio Ruiz of Global Platinum Properties, Inc.(818-524-0706)