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$ 2,288,000
Est. payment | /mo
9,169 Sqft Lot
$ 2,288,000
Est. payment | /mo
9,169 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24468811
HOA Y/N No
Year Built 1973
Lot Size 9,169 Sqft
Property Description
Prime investment opportunity in the heart of Chinatown! Lot is LAR4 with TOC Tier 3 for high density development! The existing 7-unit apartment building is situated in an unbeatable location, steps away from schools, bus stations, banks, restaurants, grocery stores, and much more. Just minutes from the bustling hub of Downtown Los Angeles, this property offers unparalleled convenience and accessibility. Property under the process of Ellis Act Evictions - completed by early 2025 so you have the option of redeveloping the lot and increase density or keeping the apartment with existing tenants. The apartment is fully occupied with long-term tenants, providing a stable income stream. Current rents are under market value with the opportunity for increased ROI with future adjustments. Property is under RSO currently. Whether you're looking to expand your portfolio or secure a solid income-producing asset, this property is a rare find in one of LA's most sought-after neighborhoods. Don't miss the chance to own a cornerstone of this vibrant and historic community. Please DO NOT DISTURB TENANTS! DRIVE BY ONLY!
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LAR4
Interior
Fireplace No
Laundry None
Exterior
Community Features Gated
Roof Type Flat
Total Parking Spaces 7
Others
Tax ID 5407024018
Security Features Gated Community
Special Listing Condition Standard
Listed by Erwin Pineda • Coldwell Banker Exclusive
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "