3960 W 8TH STREET, LOS ANGELES, CA 90005

  • 7,728 sqft
  • Lot Size: 7,196 sqft
  • Built in 1956
  • MLS #22165213
For Sale $2,979,000

Description

The location...The highly-coveted Koreatown investment market...close to "best LA has to offer". Hancock Park to the North; The Grove, The Farmer's Market and Beverly Center to the West: and to the East the heart of Koreatown and Downtown LA. And the Wilshire/Western Light Rail Station is easily "walkable". Four of the 10 units have been extensively remodeled with Shaker cabinetry and vanities, new appliances, custom tile showers & new wood flooring. That being said, there's massive "meat-on-the-bone" still with almost 50% rent upside on proforma rents. The unit mix is diverse: six 1/1s, two 2/1s and two Studios. Current Gross Income is $14,635/month; Proforma Income of over $21K/month. 7,728 sq. feet on a 7,150 sq. foot corner lot (R3). 14 parking spots in total. The seismic retrofit aka "soft story" has been completed.

FACTS / FEATURES

  • Built in 1956
  • Lot Size: 7,196 sqft
  • Cooling: None
  • Heating: Wall Furnace
  • Parking: 14 spaces total

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Listing Provided by Brice Head, Marcus & Millichap
Based on information from California Regional Multiple Listing Service, Inc. as of June 26, 2022. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.