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$2,800,000

Est. payment - /mo

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8,199 SqFt

Active

4077 W 23rd ST Los Angeles, CA 90018

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

09/30/2024 06:09 PM

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,199 sqft

Price per Sqft $341

MLS Listing ID NP24164220

HOA Y/N No

Year Built 1947

Annual Tax Amount $15,951

Tax Year 2023

Lot Size 0.554 Acres

Property Description

Offered for the 1st time in 21 years, this is a rare opportunity to own a fully occupied 12 unit apartment building situated on slightly more than 1/2 acre lot, with loads of off street parking. The property is within a rent-controlled zone. However, having two separate buildings presents the opportunity to make comprehensive upgrades, one building at a time, bringing rents up to market scale when done. Recent renovations in some units include new flooring, updated kitchens, and modern bathrooms. Mid-City LA is renowned for its historical significance and vibrant cultural scene. As part of the "West Adams" district, this area is home to numerous historic landmarks and has a rich architectural heritage. This neighborhood has been a focal point for cultural development, attracting a diverse community that values both its history and its evolving urban landscape. This property is strategically positioned near key business and cultural hubs. Only 6 miles from Downtown provides easy access to financial and business districts. USC is just over 5 miles away. The close proximity to major transportation routes, including the Metro Expo Line, ensures excellent connectivity across LA. And LAX is just 10 miles away. This property which seldom has vacancies, was tied up in Probate 5 years, missing out on rent price increases that entire time. When a savvy investor rehabs the property, enhancing efficiencies & bringing it to current building standards, there will be tremendous upside in both income and market value.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Rooms

Other Rooms Living Quarters

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Laundry Common Area

Exterior

Fence Wood

Utilities Available Electricity Connected, Natural Gas Connected

Roof Type Composition

Total Parking Spaces 12

Building

Lot Description 21-25 Units/Acre, Irregular Lot, Lawn, Level, Near Public Transit, Walkstreet

Story 2

Water Public

Additional Building Living Quarters

Others

Tax ID 5060011001

Security Features Smoke Detector(s),Security Lights

Acceptable Financing Cash to New Loan, Government Loan

Listing Terms Cash to New Loan, Government Loan

Special Listing Condition Standard

Listed by Wendy Ross • Wendy Hooper Ross, Broker • 949-870-2424

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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