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$ 2,150,000
Est. payment | /mo
20 Baths
8,712 SqFt
$ 2,150,000
Est. payment | /mo
20 Baths
8,712 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,712 sqft
Price per Sqft $246
MLS Listing ID 25497079
HOA Y/N No
Year Built 1926
Lot Size 5,902 Sqft
Property Description
We are pleased to present a twenty (20) unit multifamily property located at 1047 Irolo Street in Los Angeles, California. The property is situated in a n ideal Koreatown location just south of Olympic Boulevard and east of Western Ave. Built in 1926, this property is comprised of twenty (20) studio units. Two (2) units will be de livered vacant allowing an investor to capture market rents on these units from day one. This property boasts a unique Nubian-inspired architecture, with the building resembling the grandeur of the Pyramids of Meroe. In addition, the property is master metered for gas, allowing rent to be increased by 5% annually. Averaging over 435 SF each, these large studio units have over 45% rental upside potential. The property includes a roughly 200 SF laundry room for tenants, allowing an investor to net additional income. This is the f first time in over 30years this property has been on the market. Situated in an ideal Koreatown location, this twenty (20) unit property presents an excellent opportunity for a value-add investor to capitalize on the tremendously rental upside.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Heating Wall Furnace
Fireplace No
Appliance Dryer, Washer
Exterior
Parking Features None
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5080033010
Special Listing Condition Standard
Listed by Jason Tuvia • Marcus & Millichap
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