Multifamily
2694 James M Wood Boulevard
2694 James M Wood Blvd, Los Angeles, CA 90006
Listing Price: $1,950,000
Investment Overview
8-unit building cash flowing at a 5.50% Cap Rate from day 1 with upside to a 7.1% Cap on Proforma! Preliminary plans to add 8 detached ADUs in the back parking lot to achieve an incredible 10.66% Current Cap Rate, 11.88% Proforma Cap, and only 164k/unit after taking into account all the construction costs (~680k assuming $250/SF). Large 6,770 SF R4 Lot with TOC Tier 3 designation for future development potential.
Prime Koreatown location just minutes away from the Wilshire/Vermont Metro station as well as many hip neighborhood attractions, restaurants, bars, and shops such as The Line Hote, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-unit luxury high-rise development) and many more.
2694 James M Wood Boulevard
Investment Highlights
- Prime Koreatown Location
- Good Unit Mix - Five (5) Studios and Three (3) One-Bedroom Units
- Solid Initial Cash Flow at a 5.50% Cap Rate from Day 1 with Upside to a 7.1% Cap Rate on Proforma
- Preliminary Plans to Add Eight (8) Detached ADUs in the Rear Parking Lot to Achieve an Incredible 10.66% Current Cap Rate, 11.88% Proforma Cap Rate, and Only $164k Per Unit After Taking Into Account all the Construction Costs (~$680,000 Assuming $250/SF)
- Full On-Site Parking - Nine (9) Spaces
- Large 6,770 SF R4 Lot with TOC Tier 3 Designation for Future Development Potential
- Dominant Access to Commercial Corridors - Vermont Ave, Olympic Blvd, and Wilshire Blvd
- Just Minutes Away from Many Hip Neighborhood Attractions, Restaurants, Bars, and Shops such as The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-Unit Luxury High-Rise Development) and Many More
Exclusively Listed By
Financing By
Listing Price: $1,950,000
Investment Highlights
- Prime Koreatown Location
- Good Unit Mix - Five (5) Studios and Three (3) One-Bedroom Units
- Solid Initial Cash Flow at a 5.50% Cap Rate from Day 1 with Upside to a 7.1% Cap Rate on Proforma
- Preliminary Plans to Add Eight (8) Detached ADUs in the Rear Parking Lot to Achieve an Incredible 10.66% Current Cap Rate, 11.88% Proforma Cap Rate, and Only $164k Per Unit After Taking Into Account all the Construction Costs (~$680,000 Assuming $250/SF)
- Full On-Site Parking - Nine (9) Spaces
- Large 6,770 SF R4 Lot with TOC Tier 3 Designation for Future Development Potential
- Dominant Access to Commercial Corridors - Vermont Ave, Olympic Blvd, and Wilshire Blvd
- Just Minutes Away from Many Hip Neighborhood Attractions, Restaurants, Bars, and Shops such as The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-Unit Luxury High-Rise Development) and Many More
Investment Overview
8-unit building cash flowing at a 5.50% Cap Rate from day 1 with upside to a 7.1% Cap on Proforma! Preliminary plans to add 8 detached ADUs in the back parking lot to achieve an incredible 10.66% Current Cap Rate, 11.88% Proforma Cap, and only 164k/unit after taking into account all the construction costs (~680k assuming $250/SF). Large 6,770 SF R4 Lot with TOC Tier 3 designation for future development potential. Prime Koreatown location just minutes away from the Wilshire/Vermont Metro station as well as many hip neighborhood attractions, restaurants, bars, and shops such as The Line Hote, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-unit luxury high-rise development) and many more.
Exclusively Listed By
Financing By
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