Property Description

We are pleased to present this great investment income property in the heart of Los Angeles nearby Downtown LA (LA Convention Center, Crypto.com Arena, USC) and Korea-Town (bars, restaurants, and cafes). The Mid-Wilshire area is a highly dense neighborhood with high occupancy rates. The property has 6-Units and is Zoned LAR4 for future development potential on the corner of Hoover St. and 12th St. All tenants are current on rent. This 2-story apartment is an expansive 4,032 SF on a 6,272 SF lot with 10 parking spaces. The rear parking lot has potential for an ADU. Units consist of one 3 beds and 2 baths unit, one 2 beds and 1 bath unit, two 1 bed and 1 bath units, and two studio units. Easy access to the 10, 101, and 110 freeways. The cap rate of 5.9% is based on current gross income ($114,300) and expenses with the new property tax amount at the asking price of $1,325,000.

ESSENTIAL INFO

• Status: Active Under Contract