MLS® ID: DW19230363

113 S Edgemont Street

Los Angeles, California, 90004

$1,599,999 Active
  • - SQFT
GREAT OPPORTUNITY AND INVESTMENT IN KOREATOWN!!! R-3 ZONING!!! RIGHT IN THE HEART OF LOS ANGELES!!! THIS CASH-FLOWING, TAX-SHELTERING, CASH-FLOWING, CASH-ON-CASH RETURNING PROPERTY HAS THE ABILITY TO BUILD ADDITIONAL UNITS. BORDERED BY SILVER LAKE AND ECHO PARK. "JUST" BLOCKS AND WALKING DISTANCE AWAY TO WILSHIRE CENTER, WILSHIRE AND WESTERN, BUS / TRAINS / SUBWAY STATIONS, ETC. THIS INCOME PROPERTY IS HAS A TERRIFIC UPSIDE POTENTIAL, FANTASTIC RATES OF RETURN WITH A 3.31% CAP RATE (POTENTIAL FOR 5.00%), AND 24.51% GROSS RENT MULTIPLIER (POTENTIAL FOR 14.00%) FOR THE AREA -- TONS OF ROOM FOR GROWTH!!! PRICED TO SELL. LOTS OF UPSIDE IN RENTS ($61,200.00 IN GROSS INCOME AND DUE FOR ANNUAL INCREASE). POTENTIAL RENTS ARE $96,000 to $192,000 ANNUALLY. TONS OF GENTRIFICATION HAPPENING IN THE AREA. LARGE SIZE FOR THE AREA -- OVER 4,274 SQ.FT. OF LIVING SPACE, 4 CAR GARAGES (2 CARS FOR EACH UNIT) AND MORE. JUST UNDER $351K/SQ.FT. THIS PROPERTY HAS THE POTENTIAL TO BUILD MULTIPLE MORE UNITS WORTH OF INCOME (ZONED R-3). THIS PROPERTY MAINTAINS TWO(2) 3 BEDROOM AND 2 BATHROOMS. TONS OF POTENTIAL. LOTS OF ROOM FOR PARKING AND FOR BUILDING. PERFECT PROPERTY FOR SOMEONE TO LIVE AND RENT THE OTHERS AND BUILD MORE AS THEY GO! LOTS OF UPSIDE!!! GREAT OPPORTUNITY TO 1031 INTO!!! THIS IS A GROWING MARKET WITH LOTS OF GROWTH!!! DON'T WAIT BEFORE IT'S TOO LATE!!! DO NOT MISS THIS GOLDEN OPPORTUNITY!!! *** Buyer(s) and their agents are to determine the accuracy of the information provided ***
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Listing courtesy of Remax Masters

Amenities

  • Full baths
    0
  • Half baths
    0
  • Three-quarter Baths
    0
  • Total Baths
    0
  • Zip
    90004
  • Office name
    Remax Masters
  • SQFT
    0
  • Bedrooms
    0
  • Property type
    Duplex
  • Zoning type
    LAR3
  • Year built
    1933
  • Lot size
    5796.00
  • Sewer
    Public Sewer,Unknown
  • Heating
    Central
  • Tax year
    0
  • Agent name
    Alexander Romero
  • Tax amount
    $ 0.0
  • Purchase Type
    Active
  • Price Range
    $1.5m-$1.75m
  • Square Feet Range
    < 1000 sq ft.
  • Year Built Range
    1989 (and earlier)
  • Office ID
    DWRJP
  • Agent ID
    YROMALEX

Location

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