2375 W 12TH STREET, LOS ANGELES CA 90006
- 12,306 sq.ft.
- 14,003 sq.ft. lot
Property Description
2375 W 12th St | 11-Unit Multifamily at the Koreatown Westlake Border Built in 1923, the property consists of a well-balanced mix of (4) 2-bed/1-bath, (6) 1-bed/1-bath, and (1) studio unit, totaling 12,306 SF on a 13,999 SF LAR4 lot (~$167 land PSF). The building is fully occupied, producing $157,584 in annual income, with market rents supporting up to $275,490 annually a $117K+ upside. Priced at $2,350,000 (~$214K per unit / $191 per SF), the asset offers a 3.44% current cap rate and an 8.01% pro forma cap rate, with stable cash flow today and a clear path to higher returns. Six on-site parking spaces further strengthen tenant demand and revenue potential in a dense submarket where parking is limited. Property gets $450 per month from garages and $200 per month from Laundry.
Listing Courtesy of Taylor Avakian, Lyon Stahl Investment Real Estate, Inc.
Interior Features
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