2694 James M Wood Blvd 3BR La
| Website: | https://www.nestseekers.com/5431270 |
|---|---|
| Address: | 2694 James M Wood Blvd LOS ANGELES, CA 90006 |
| Ownership: | For Sale |
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| Bedrooms: | 3 BR |
| Bathrooms: | 8 |
| Area: | 6747 sq ft |
| Lot Size: | 0.2 Acres |
Financials
Price:$1,795,000
Description
Huge 200k Price Reduction! 8-unit building cash flowing at a 6.75% Cap Rate from day 1 with upside to an 8.3% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 12.1% Current Cap Rate, 13.3% Proforma Cap, and only 154k/unit after taking into account all the construction costs (~680k assuming $250/SF). Large 6,770 SF R4 Lot with TOC Tier 3 designation for future development potential. 5 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, and more. Prime Koreatown location just minutes away from the Wilshire/Vermont Metro station as well as many hip neighborhood attractions, restaurants, bars, and shops such as The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-unit luxury high-rise development) and many more.
271 North Canon Drive Beverly Hills, CA 90210 Phone: +1 310-280-8983 Fax: +1 310-362-0351 | |
| Listing Courtesy of Global Platinum Properties, Inc. | |
