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$ 1,695,000
Est. payment /mo
Open 9/7 3PM-4PM
1053 S Oxford Avenue Los Angeles, CA 90006
7 Beds
4 Baths
Open House
Sun Sep 07, 3:00pm - 4:00pm
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
Bedrooms 7
Property Sub-Type Res Income 2-4 Units
Property Description
PLEASE DO NOT DISTURB OCCUPANTS .... 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 that 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) 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). 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) Preliminary review suggests potential for approx. 20- 27 units with up to 19,500 buildable SF (buyer to verify). 6,500 SF LAR4 lot typically supports after TOC rounding rules, with parking as low as 0.5/unit and potential open-space/yard concessions. Conceptual proforma rents for a unit mix of 1-, 2-, and 3-bedroom apartments could reach $800,000+ gross annual income, depending on desi
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
