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$ 2,500,000
Est. payment | /mo
7,444 SqFt
$ 2,500,000
Est. payment | /mo
7,444 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,444 sqft
Price per Sqft $335
MLS Listing ID CL25556547
HOA Y/N No
Year Built 1958
Lot Size 7,424 Sqft
Acres 0.17
Property Sub-Type Other
Property Description
We are pleased to present a seven-unit investment opportunity in Koreatown at 4651 Council St, a corner lot just south of Beverly Blvd. The property features an ideal unit mix of two one-bedrooms and five two-bedrooms with 10 parking spaces; the soft story retrofit work has been completed. Ownership has completed full renovations of five units with upgrades including in-unit washers & dryers, vinyl plank flooring, stainless steel appliances, new kitchen cabinets and tile backsplashes, new plumbing fixtures and improvements, new drywall, paint, and base moldings, and energy efficient LED lighting, among others. In addition to interior unit renovations, ownership has recently completed exterior and common area capital expenditures including LED lighting, house panel and subpanel upgrades, new door numbers, new landscaping, and new paint throughout the common areas. Opportunity to acquire an asset with little to no deferred maintenance and strong in-place cash flow at a 5.93% CAP rate and 11.12 GRM on current income with an additional 17% rental upside. High Walk Score of 93, close proximity to schools, employment, and transit options; Central location makes it convenient for residents to commute throughout the city to nearby neighborhoods such as Downtown LA, East Hollywood, Hollyw
Location
State CA
County Los Angeles
Zoning LAR2
Interior
Heating None
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5516020010
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Listed by Neema Ahadian • Marcus & Millichap
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "