1503 S Menlo Avenue

    Los Angeles (City), CA 90006
    • $2,200,000
    • STATUS: Active
    • ON SITE: 46 days
    • ID#: 19504856
    UPDATED: 20 min ago
    $2,200,000
    • 0
      BEDS
    • 0.34
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1890
    County:

    School Ratings & Info

    Description

    The A Team is pleased to present 1503 Menlo Avenue, a property that embodies the history and setting of Koreatown. This unique value-add opportunity is comprised of a massive 14,600 square foot lot, a detached back-house, and preferable unit mix with a solid $150K of gross annual income. The gentrification of Koreatown continues to drive high-end development boosting rents in surrounding sub-markets. Koreatown continues to be one of LA's hotspots creating even more demand for new construction, with around 2,000 units currently under construction. Menlo Ave is nothing but opportunity as its pinpointed in the most populated area of Los Angeles. Combined with the demographics and local gentrification this deal allows a new operator to be as creative as they wish. With consideration to all that is happening in and around the area you will see why savvy investors are taking advantage of this market while they can!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-14T23:32:26.113. 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 J1 REALTY GROUP. Licensed in the State of California, USA.
    www.j1re.com/homes/98427479

    1503 S Menlo Avenue Los Angeles (City), CA 90006

    • Price: $2,200,000
    • Status: Active
    • Updated: 20 min ago
    • ID#: 19504856
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.34
    Acres
    1890
    Built
    Neighborhood:
    C16 - Mid Los Angeles
    County:
    Los Angeles
    Area:
    C16 - Mid Los Angeles
    Property Description
    The A Team is pleased to present 1503 Menlo Avenue, a property that embodies the history and setting of Koreatown. This unique value-add opportunity is comprised of a massive 14,600 square foot lot, a detached back-house, and preferable unit mix with a solid $150K of gross annual income. The gentrification of Koreatown continues to drive high-end development boosting rents in surrounding sub-markets. Koreatown continues to be one of LA's hotspots creating even more demand for new construction, with around 2,000 units currently under construction. Menlo Ave is nothing but opportunity as its pinpointed in the most populated area of Los Angeles. Combined with the demographics and local gentrification this deal allows a new operator to be as creative as they wish. With consideration to all that is happening in and around the area you will see why savvy investors are taking advantage of this market while they can!
    Exterior Features

    Lot Size Units Square Feet Parking Features Parking Space Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 4.20 Gross Multiplier 14.77 Gross Operating Income 153480.00 Improvements Amount 303576 Land Value 444885 Laundry YN Yes Net Operating Income 92440.00 Special Listing Conditions Standard Total Expenses 56570.00 Zoning Lard1.5

    Listing provided courtesy of Marcus Anderson of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-14T23:32:26.113. 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 J1 REALTY GROUP. Licensed in the State of California, USA.
     
    J1 REALTY GROUP
    16755 Von Karman Ave, Ste 200
    Irvine CA, 92606