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175 N Edgemont Street

Los Angeles (City), CA 90004
  • $2,499,000
  • STATUS: Active
  • ON SITE: 62 Days
  • ID#: 22167691
Price Reduced
UPDATED: 84 min ago
$2,499,000
  • 0
    BEDS
  • 0.25
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,312
    SQFT
  • $342
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1940
County:

School Ratings & Info

Listing Agent(s): Kevin Kawaoka of Nai Capital, Inc. (310-440-8500)


Description

OFFERED FOR THE FIRST TIME IN 17 YEARS! 175 & 179 N Edgemont Street is comprised of Two 6-unit multifamily structures (side by-side) located in the trendy and high growth area of Koreatown. Each building sits on it's own parcel (5518-012-015 & 5518-012-016) and is comprised of a rare mix of 6 extra large Studio + Den apartment homes (12 units total); (Ample parking 14 spaces). Easy to own and operate, simple management. These two-story walk-up style complexes were built in 1940. Each unit is +- 600 square feet on average. These twin sister buildings command a corner location and are located less than half a mile to the metro station. The area boasts a healthy score of 88 on walkability providing the ideal location & crossroads for where millennials want to live, work and play. Incredible Development Opportunity: PRICED AT LAND VALUE FOR 2 CONTIGUOUS MASSIVE CORNER LOTS OF NEARLY 11,000 SQ, FT. TOTAL WITH EXTRA WIDE FRONTAGE ON BOTH STREETS. ZONED LAR3 LOCATED IN OPPOUTUNITY ZONE + BENEFIT OF A TOC TIER 3 OVERLAY + DENSITY BONUS FOR FUTURE DEVELOPMENT POTENTIAL (Buyer to conduct their own due diligence with the City of Los Angeles).

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-15T23:27:38.77. 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 Villa Real Estate. Licensed in the State of California, USA.
www.thecharlieprice.com/homes/129830473
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175 N Edgemont Street Los Angeles (City), CA 90004

  • Price: $2,499,000
  • Status: Active
  • On Site: 62 Days
  • Updated: 84 min ago
  • ID#: 22167691
0
Beds
0
Baths
0
½ Baths
0.25
Acres
7,312
SQFT
$342
$/SQFT
1940
Built
Neighborhood:
C17 - Mid-Wilshire
County:
Los Angeles
Area:
C17 - Mid-Wilshire
Property Description
OFFERED FOR THE FIRST TIME IN 17 YEARS! 175 & 179 N Edgemont Street is comprised of Two 6-unit multifamily structures (side by-side) located in the trendy and high growth area of Koreatown. Each building sits on it's own parcel (5518-012-015 & 5518-012-016) and is comprised of a rare mix of 6 extra large Studio + Den apartment homes (12 units total); (Ample parking 14 spaces). Easy to own and operate, simple management. These two-story walk-up style complexes were built in 1940. Each unit is +- 600 square feet on average. These twin sister buildings command a corner location and are located less than half a mile to the metro station. The area boasts a healthy score of 88 on walkability providing the ideal location & crossroads for where millennials want to live, work and play. Incredible Development Opportunity: PRICED AT LAND VALUE FOR 2 CONTIGUOUS MASSIVE CORNER LOTS OF NEARLY 11,000 SQ, FT. TOTAL WITH EXTRA WIDE FRONTAGE ON BOTH STREETS. ZONED LAR3 LOCATED IN OPPOUTUNITY ZONE + BENEFIT OF A TOC TIER 3 OVERLAY + DENSITY BONUS FOR FUTURE DEVELOPMENT POTENTIAL (Buyer to conduct their own due diligence with the City of Los Angeles).
Exterior Features

Attached Garage YN No Parking Features Gated Parking Total 14

Interior Features

Cooling None Cooling YN No Heating Wall Furnace Heating YN Yes Interior Features Ceiling Fan(S)

Property Features

Association YN No Cap Rate 5.3 Gross Income 200508 Listing Agreement Seller Reserved Listing Service Limited Service Net Operating Income 132504 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-15T23:27:38.77. 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 Villa Real Estate. Licensed in the State of California, USA.
 
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Villa Real Estate
450 Newport Center Drive, Suite 100
Newport Beach CA, 92660
Listing Agent(s): Kevin Kawaoka of Nai Capital, Inc. (310-440-8500)