2869 San Marino Street

    Los Angeles (City), CA 90006
    • $3,250,000
    • STATUS: Active
    • ON SITE: 76 days
    • ID#: 19495428
    UPDATED: 25 min ago
    $3,250,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,900
      SQFT
    • $365
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:

    School Ratings & Info

    Description

    2869 San Marino Street is a charming 20-unit investment opportunity, ideally located in Koreatown (90006), one of LA's most dynamic neighborhoods. The offering, built in 1923, provides approx. 33% rental upside potential making this an ideal investment for the savvy investor looking for long term rent appreciation and a consistent, appreciating asset. The unit composition consists of twenty (20) Studio apartments featuring a combination of various interior improvements such as new tile flooring and/or original hardwood flooring (either exposed or otherwise), plus kitchen and bath enhancements. The location is in high demand and as a result, current management sees vacancies rent rapidly. Building amenities include common area laundry facilities (leased equipment 2 washers and 2 dryers), decorative common areas with wood flooring and decorative treatments.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-18T12:38:31.193. 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/97533670

    2869 San Marino Street Los Angeles (City), CA 90006

    • Price: $3,250,000
    • Status: Active
    • Updated: 25 min ago
    • ID#: 19495428
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    8,900
    SQFT
    $365
    $/SQFT
    1923
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    2869 San Marino Street is a charming 20-unit investment opportunity, ideally located in Koreatown (90006), one of LA's most dynamic neighborhoods. The offering, built in 1923, provides approx. 33% rental upside potential making this an ideal investment for the savvy investor looking for long term rent appreciation and a consistent, appreciating asset. The unit composition consists of twenty (20) Studio apartments featuring a combination of various interior improvements such as new tile flooring and/or original hardwood flooring (either exposed or otherwise), plus kitchen and bath enhancements. The location is in high demand and as a result, current management sees vacancies rent rapidly. Building amenities include common area laundry facilities (leased equipment 2 washers and 2 dryers), decorative common areas with wood flooring and decorative treatments.
    Exterior Features

    Lot Size Units Square Feet Parking Features Other Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 3.90 Gross Multiplier 14.67 Gross Operating Income 217100.00 Improvements Amount 424290 Land Value 436774 Laundry YN Yes Net Operating Income 125184.00 Special Listing Conditions Standard Total Expenses 91916.00 Zoning Lar4

    Listing provided courtesy of Nick Astrupgaard of Kw Commercial Studio City and Rich Johns of Kw Commercial Studio City


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-18T12:38:31.193. 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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