Property Detail

Description

"INCOMING-PRODUCING" 4-Unit Building currently operated as a multi-room rental located in Pico/Crenshaw area of Central Los Angeles, near Koreatown and Mid-Wilshire. The interior configuration has been significantly altered by prior ownerships, with walls opened and reconfigured, resulting in a layout that currently resembles a large single-family residence. The existing configuration is non-conforming to the original 4-unit design. The property is currently being used as a individually rented, approximately 12-bedrooms rooming house, producing approximately $7,606 in gross monthly income. The building features two communal kitchens, one on each level. Recent improvements include a newer roof (approximately 4 years old) and an updated heating system. The seller pays all utilities, averaging approximately $1,000 per month for water and electricity and $500 per month for gas. The property offers at least 5 surface parking spaces and is situated on a 7,158 Sq.ft R-3 Lot with Tier 3 Transit Oriented Communities (TOC) designation, offering significant redevelopment and density potential. Buyer to conduct their own due diligence and verify all zoning, permits, square footage, current use, and development potential. Ideal opportunity for investors or developers seeking income with strong Value-add or redevelopment upside in a prime central Los Angeles location. NOTE: PLEASE DO NOT DISTURB OR SPEAK WITH TENANTS, NOR WALK ON THE PREMISES!