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$ 1,695,000
Est. payment /mo
New
1053 S Oxford Avenue Los Angeles, CA 90006
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25192062
Property Sub-Type Res Income 2-4 Units
Property Description
Delivered 100% VACANT, this 5-unit property in Korea-town offers immediate income potential and future redevelopment upside. The mix includes three 1-bed/1-bath units with shared laundry ON SITE , one 3-bed/1-bath, and one 2-bed/1-bath with potential to reconfigure into a 4-bed/2-bath. An attached garage and ample surface parking add to tenant appeal. Separately metered and impeccably maintained this property is a trophy property looking for its next owner. Rough Proforma renovated rents1-bed units projected at ~$2,400, the 2-bed at ~$2,700, and the 3-bed at ~$3,900the property generates an estimated $165,600 annually (~$13,800/month). With a stabilized NOI of approximately $103,000, this equates to a 6.08% cap rate at the list price of $1,695,000, offering the possibility of increasing the rental return by reconfiguring the 2/1 into a 4/2 . For long-term investors or developers, the LAR4 zoning and proximity to major transit may qualify the property for Tier 3 TOC incentives (buyer to verify). Conservatively, this could allow 2025 units, translating to potential monthly income in the $40,000$50,000+ range at similar mid-market rents. LAs TOC program has been shown to improve feasibility by reducing approval risk, and the citys new Citywide Housing Incentive Program (CHIP) adds streamlined procedures and incentives when affordability is provided on future developments (buyer to verify specifics with Planning) For an owner-occupant, this property also offers the ability to live in one of the spacious units while collecting strong rental income from the othershelping offset y
Location
State CA
County Los Angeles
Zoning Assessor
Direction western / 11th
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 5080009025
Listed by Deborah Bush Jason Mitchell Real Estate CA
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