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2375-2379 W 12th St
Los Angeles, CA 90006

$2,550,000 USD

Apartments For Sale • 12,306 SF

Property Details

Property Type Apartments
Total Building Size 12,306 SF
Lot Size 0.32 AC
Building Class C
Year Built 1923
Cap Rate 3.40 %
Zoning R4-2, Los Angeles

74 Transit Score

91 Walk Score

                
                    Highlights
                
                                Prime Koreatown location, bordering Downtown Los Angeles, offering strong demand and rental growth potential
                            
                                11 desirable large size units including one studio, six 1-bedroom units, and four 2-bedroom units
                            
                                Significant rental upside with current rents over 70% below market, providing a potential Pro Forma CAP rate of over 8.5%
                            
                                Situated on a large 13,999 square foot corner lot with on-site laundry and parking garages
                            
                                Opportunity for further income growth through the addition of ADUs, subject to buyer verification
                            
                                R4-01 zoning and location within a Transit Priority Area present strong redevelopment potential

Financial Summary (Actual)

Net Operating Income: $86,778 USD (2023)

Cap Rate:	3.40 %
Total Expenses:	$89,945 USD

Public Transportation

Commuter Rail	Drive	Walk	Distance
Los Angeles (Coast Starlight - Amtrak, Pacific Surfliner - Amtrak, Southwest Chief - Amtrak, Texas Eagle - Amtrak)	9 min	-	4.0 mi
Union Station (91 Line - Southern California Regional Rail Authority (Metrolink), Antelope Valley Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink), Riverside Line - Southern California Regional Rail Authority (Metrolink), San Bernardino Line - Southern California Regional Rail Authority (Metrolink), Ventura County Line - Southern California Regional Rail Authority (Metrolink))	11 min	-	4.2 mi
Transit/Subway	Drive	Walk	Distance
Westlake/Macarthur Park Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro))	2 min	20 min	1.0 mi
Wilshire/Vermont Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro))	3 min	20 min	1.0 mi
Airport	Drive	Walk	Distance
Los Angeles International	24 min	-	13.5 mi
Bob Hope	23 min	-	13.6 mi
Long Beach (Daugherty Field)	31 min	-	22.6 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	6
Type:	Surface
Included in Rent:	Yes

David Lin 626-257-8502 Colliers

2375-2379 W 12th St Los Angeles, CA 90006