Active

927 S Ardmore Ave

Los Angeles CA, 90006

$4,499,000


$112.48 per sqft

Active

58 Baths

40,000 sqft

Multi-family

Built in 1922

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 7.54% cap rate, $339,600 GRI and 13.25% 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.

24-367837

MLS ID

March 13, 2024

Listed

July 13, 2024

Updated

Map

927 S Ardmore Ave
Los Angeles CA, 90006

Interior Features

Total Stories

7


Total Bathrooms

58


Appliances

None


Laundry Description

In Unit


Fireplace

No


Cooling

Yes


Cooling Description

Air Conditioning


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.31 Acres

Other Property Details

Area Name

Mid-Wilshire


Days on Market

113


Garage

No


Parking

Assigned


Parking Total

50


View

No


County

Los Angeles


Pool

No


Zoning

LAR4

Listing History

Date

Event

Price

5/14/2024

Price Change

$4,499,000

-10%

Listed by Jina Hee Chon with NEOZIPS, Inc.
Listing Contact: 213-505-4900 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor DPP Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 7/13/2024

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