Listed By NEOZIPS, Inc., Jina Hee Chon
927 S ARDMORE AVE Los Angeles, CA 90006
$4,980,000
—
Bedrooms
58
Total Baths
—
Full Baths
40,000
Square Feet
0.31
Acres
1922
Year Built
Active
Status
MLS#
24-367837
Take a part of the ever growing Koreatown rental market! We are pleased to showcase this exceptional opportunity to become either an Investor or a Developer. Encompass of 2 lots totaling 13,534 square feet of prime Koreatown land. OPTION # 1 : For THE INVESTORS in search of an opportunity to expand their real estate portfolio, we offer the buyers the ability to immediately renovate, design, and lease the existing 8 units (1 studio, 5 of 1 bed & 1 bath units and 2 of 2 bed & 1 bath units) and Single Family Home with a detached garage that can be converted to an ADU for extra income. PROFORMA MONTHLY RENTAL INCOME: Studio $1,700 * 1bed + 1 bath $2,200 * 2 bed + 1bath $2,800 * SFR $7,500 + $2,500 for Possible ADU. In exchange, the property is forecasted to attain a 5.11% cap rate, $339,600 GRI and 14.66% GRM post-renovation. Delivered 100% Vacant. OPNTION # 2 : For THE DEVELOPERS, the Property will be delivered with RTI Permits to acquire a 54-unit, seven-story development project with RTI(Ready to Issue) plans. The proposed development spans an impressive 40,000 square feet and comprises 54 units, R4-1 Zoning, TOC Tier 3. Delivered 100 % Vacant.
Details for 927 S ARDMORE AVE
Price per square foot and days on website are not provided values and are calculated by RE/MAX.
Listing Office NEOZIPS, Inc., 661-675-6000
MLS# 24-367837
Updated 8:00AM - 4/18/2024
Listing Agent Jina Hee Chon, 213-505-4900
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