2861 Leeward Avenue

    Los Angeles (City), CA 90005
    • $2,695,000
    • STATUS: Active
    • ON SITE: 11 days
    • ID#: WS20096019
    UPDATED: 28 min ago
    $2,695,000
    • 0
      BEDS
    • 0.25
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,558
      SQFT
    • $485
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1921
    County:

    School Ratings & Info

    Description

    This 10 unit apartment complex is in the heart of many large developments in the Koreatown area including the 31 story, 644 apartment project on Wilshire and Hoover. Down the street from brand new condos for sell as well as directly adjacent to the new Gateway project on 8th set to break ground in August of this year. A savvy investor could build up to 48 units with TOC tier 3. This quarter of an acre lot on the corner of Leeward and Magnolia allows for easier access for parking layouts and is zoned R4-2 with no height restrictions. The lot is also 70 feet wide compared to the average 60 foot on the block. An investor could purchase and hold knowing well-zoned land is becoming harder to come by.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-06-01T17:28:56.78. 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 Allison James Estates and Homes. Licensed in the State of California, USA.

    www.teamforss.com/homes/106044725

    2861 Leeward Avenue Los Angeles (City), CA 90005

    • Price: $2,695,000
    • Status: Active
    • Updated: 28 min ago
    • ID#: WS20096019
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.25
    Acres
    5,558
    SQFT
    $485
    $/SQFT
    1921
    Built
    Neighborhood:
    KREA - Koreatown
    County:
    Los Angeles
    Area:
    KREA - Koreatown
    Property Description
    This 10 unit apartment complex is in the heart of many large developments in the Koreatown area including the 31 story, 644 apartment project on Wilshire and Hoover. Down the street from brand new condos for sell as well as directly adjacent to the new Gateway project on 8th set to break ground in August of this year. A savvy investor could build up to 48 units with TOC tier 3. This quarter of an acre lot on the corner of Leeward and Magnolia allows for easier access for parking layouts and is zoned R4-2 with no height restrictions. The lot is also 70 feet wide compared to the average 60 foot on the block. An investor could purchase and hold knowing well-zoned land is becoming harder to come by.
    Exterior Features

    Garage Spaces 0.00 Lot Features Corner Lot Lot Size Source Assessor Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN Yes Roof Rolled/Hot Mop

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features None Levels One

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features CurbsStreet LightsUrban Country Us Electric Standard Electric Expense 5358.00 Elevation Units Feet Fuel Expense 660.00 Gross Income 102821.00 Gross Scheduled Income 102821.00 Insurance Expense 2926.00 Land Lease YN No Laundry YN No Maintenance Expense 1264.00 Net Operating Income 48155.00 New Construction YN No New Taxes Expense 33750.00 Number Of Separate Electric Meters 10 Number Of Separate Gas Meters 10 Number Of Separate Water Meters 1 Operating Expense 54666.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 54666.00 Trash Expense 6708.00 Utilities Electricity ConnectedNatural Gas ConnectedWater Connected Water Sewer Expense 4000.00 Water Source Public Year Built Source Assessor Zoning Lar4

    Listing provided courtesy of Travis Ely of Travis Ely and Susan Cosentino of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-06-01T17:28:56.78. 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 Allison James Estates and Homes. Licensed in the State of California, USA.

     
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