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Listed by Deborah Bush • Jason Mitchell Real Estate CA
$ 1,695,000
Est. payment /mo
Active
1053 S Oxford AVE Los Angeles, CA 90006
6,502 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB25192062
Year Built 1922
Lot Size 6,502 Sqft
Source California Regional MLS
Property Description
PLEASE DO NOT DISTURB OCCUPANTS .... Delivered 100% VACANT, this 5-unit property in Korea-town offers immediate income potential and future redevelopment upside. The mix includes three 1-bed/1-bath units with shared laundry ON SITE , one 3-bed/1-bath, and one 2-bed/1-bath with potential to reconfigure into a 4-bed/2-bath. An attached garage and ample surface parking that add to tenant appeal. Separately metered and impeccably maintained this property is a trophy property looking for its next owner. Rough Proforma renovated rents-1-bed units projected at $2,400, the 2-bed at $2,700, and the 3-bed at $3,900-the property generates an estimated $165,600 annually ($13,800/month) Offering the possibility of increasing the rental return by reconfiguring the 2/1 into a 4/2 . For long-term investors or developers, the LAR4 zoning and proximity to major transit may qualify the property for Tier 3 TOC incentives (buyer to verify). LA's TOC program has been shown to improve feasibility by reducing approval risk, and the city's new Citywide Housing Incentive Program (CHIP) adds streamlined procedures and incentives when affordability is provided on future developments (buyer to verify specifics with Planning) Preliminary review suggests potential for approx. 20- 27 units with up to
Location
State CA
County Los Angeles
Area Krea - Koreatown
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Flooring Laminate
Laundry In Laundry Room, Other, 38
Exterior
Parking Features Assigned Spaces, Attached Garage, Covered Parking, Garage, Other
Garage Spaces 2.0
Pool 31, None
View None
Building
Water District - Public
Others
Tax ID 5080009025
Special Listing Condition Not Applicable
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