Property
| Ownership: | For Sale |
|---|---|
| Bedrooms: | 10 BR |
| Bathrooms: | 11 |
| Area: | 14003 sq ft |
| Lot Size: | 0.32 Acres |
FinancialsPrice:$2,350,000
Price:$2,350,000
Listing Courtesy of Lyon Stahl Investment Real Estate, Inc.
Description2375 W 12th St | 11-Unit Multifamily at the Koreatown Westlake Border Built in 1923, the property consists of a well-balanced mix of (4) 2-bed/1-bath, (6) 1-bed/1-bath, and (1) studio unit, totaling 12,306 SF on a 13,999 SF LAR4 lot (~$167 land PSF). The building is fully occupied, producing $157,584 in annual income, with market rents supporting up to $275,490 annually a $117K+ upside. Priced at $2,350,000 (~$214K per unit / $191 per SF), the asset offers a 3.44% current cap rate and an 8.01% pro forma cap rate, with stable cash flow today and a clear path to higher returns. Six on-site parking spaces further strengthen tenant demand and revenue potential in a dense submarket where parking is limited. Property gets $450 per month from garages and $200 per month from Laundry.
2375 W 12th St | 11-Unit Multifamily at the Koreatown Westlake Border Built in 1923, the property consists of a well-balanced mix of (4) 2-bed/1-bath, (6) 1-bed/1-bath, and (1) studio unit, totaling 12,306 SF on a 13,999 SF LAR4 lot (~$167 land PSF). The building is fully occupied, producing $157,584 in annual income, with market rents supporting up to $275,490 annually a $117K+ upside. Priced at $2,350,000 (~$214K per unit / $191 per SF), the asset offers a 3.44% current cap rate and an 8.01% pro forma cap rate, with stable cash flow today and a clear path to higher returns. Six on-site parking spaces further strengthen tenant demand and revenue potential in a dense submarket where parking is limited. Property gets $450 per month from garages and $200 per month from Laundry.
2375 W 12th St 10BR La
Description2375 W 12th St | 11-Unit Multifamily at the Koreatown Westlake Border Built in 1923, the property consists of a well-balanced mix of (4) 2-bed/1-bath, (6) 1-bed/1-bath, and (1) studio unit, totaling 12,306 SF on a 13,999 SF LAR4 lot (~$167 land PSF). The building is fully occupied, producing $157,584 in annual income, with market rents supporting up to $275,490 annually a $117K+ upside. Priced at $2,350,000 (~$214K per unit / $191 per SF), the asset offers a 3.44% current cap rate and an 8.01% pro forma cap rate, with stable cash flow today and a clear path to higher returns. Six on-site parking spaces further strengthen tenant demand and revenue potential in a dense submarket where parking is limited. Property gets $450 per month from garages and $200 per month from Laundry.
2375 W 12th St | 11-Unit Multifamily at the Koreatown Westlake Border Built in 1923, the property consists of a well-balanced mix of (4) 2-bed/1-bath, (6) 1-bed/1-bath, and (1) studio unit, totaling 12,306 SF on a 13,999 SF LAR4 lot (~$167 land PSF). The building is fully occupied, producing $157,584 in annual income, with market rents supporting up to $275,490 annually a $117K+ upside. Priced at $2,350,000 (~$214K per unit / $191 per SF), the asset offers a 3.44% current cap rate and an 8.01% pro forma cap rate, with stable cash flow today and a clear path to higher returns. Six on-site parking spaces further strengthen tenant demand and revenue potential in a dense submarket where parking is limited. Property gets $450 per month from garages and $200 per month from Laundry.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
