Active

927 S Ardmore Avenue

Los Angeles CA, 90006

$4,499,000


$112.48 per sqft

Active

58 Baths

40,000 sqft

Residential

Built in 1922

Listed by Jina Hee Chon with NEOZIPS, Inc. 661-675-6000

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.

24367837

MLS ID

March 13, 2024

Listed

July 14, 2024

Updated

Map

927 S Ardmore Avenue
Los Angeles CA, 90006

Interior Features

Total Stories

7


Total Bathrooms

58


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.31 Acres

Other Property Details

Area Name

C17 - Mid-Wilshire


Days on Market

113


Garage

No


Parking

Assigned


Parking Total

50


View

No


County

Los Angeles


Pool

No


Zoning

LAR4


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

5/14/2024

Price Change

$4,499,000

-10%

Listing Contact: 661-675-6000 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 7/14/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 7/14/2024 at 6:19 AM UTC

 

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