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1532 S Wilton Place

Los Angeles (City), CA 90019
  • $3,250,000
  • STATUS: Active
  • ON SITE: 26 Days
  • ID#: 24355599
UPDATED: 37 min ago
$3,250,000
  • 28
    BEDS
  • 0.3
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 9,916
    SQFT
  • $328
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1960
County:

School Ratings & Info

Listing Agent(s): Jonathan Rawson of Avenue Realty Group (310-310-8624) and Robert Kellner of Avenue Realty Group(310-310-8624)


Description

Back on market at revised price! Now being offered at a low $230k per door for all 2 Bed/1 Bath units with 14 on-site gated parking spaces. Located in the heart of Angelus Vista / Mid City with in-place RTI's and approved plans/permits by the City of LA to build (2) ADU's in the back tuck-under parking spaces. Adding the (1) 3+1 and (1) 1+1 ADU's would turn the property into 16 units ($200k per door), and 8 parking spaces will remain after construction completion. EQ retrofit work has already been completed! Seller has an assumable loan at a fixed 3.850% interest rate. Clean 1960's construction asset on a large 13k SF lot zoned LAR3 for future development. In-place & current 13 GRM without ADU's, with approximately 95% rental upside to a stabilized 6.70 GRM. Turn the property into a 10.5 current GRM once ADU's are completed & rented, and assuming all other rents remain the same. New roofs were put on both structures in 2017, copper plumbing, brand new master water heater and brand-new laundry room machines.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-04T18:32:51.543. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.kevinhillre.com/homes/147326513
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1532 S Wilton Place Los Angeles (City), CA 90019

  • Price: $3,250,000
  • Status: Active
  • On Site: 26 Days
  • Updated: 37 min ago
  • ID#: 24355599
28
Beds
0
Baths
0
½ Baths
0.3
Acres
9,916
SQFT
$328
$/SQFT
1960
Built
Neighborhood:
C16 - Mid Los Angeles
County:
Los Angeles
Area:
C16 - Mid Los Angeles
Property Description
Back on market at revised price! Now being offered at a low $230k per door for all 2 Bed/1 Bath units with 14 on-site gated parking spaces. Located in the heart of Angelus Vista / Mid City with in-place RTI's and approved plans/permits by the City of LA to build (2) ADU's in the back tuck-under parking spaces. Adding the (1) 3+1 and (1) 1+1 ADU's would turn the property into 16 units ($200k per door), and 8 parking spaces will remain after construction completion. EQ retrofit work has already been completed! Seller has an assumable loan at a fixed 3.850% interest rate. Clean 1960's construction asset on a large 13k SF lot zoned LAR3 for future development. In-place & current 13 GRM without ADU's, with approximately 95% rental upside to a stabilized 6.70 GRM. Turn the property into a 10.5 current GRM once ADU's are completed & rented, and assuming all other rents remain the same. New roofs were put on both structures in 2017, copper plumbing, brand new master water heater and brand-new laundry room machines.
Exterior Features

Parking Features Assigned Parking Total 14

Interior Features

Appliances DishwasherDisposalRefrigeratorDryerWasher Heating Wall Furnace Heating YN Yes Interior Features Ceiling Fan(s)

Property Features

Additional Parcels YN No Association YN No Buyer Financing Cash Cap Rate 4.55 Community Features Gated Gross Income 247776 Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 147921 New Construction YN No Rent Control YN Yes Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGas Zoning LAR3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-04T18:32:51.543. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
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Berkshire Hathaway HomeServices California Properties
25909 Pala Dr, Suite 100
Mission Viejo CA, 92691
Listing Agent(s): Jonathan Rawson of Avenue Realty Group (310-310-8624) and Robert Kellner of Avenue Realty Group(310-310-8624)