1532 South Wilton Place
$2,750,000
28
14
9,916
9,916
$277
Listed By Compass
Pending
Description
HUGE PRICE IMPROVEMENT & PRICED TO SELL! Bring all offers! 14 existing units in prime Mid City LA, all 2 Bed/1 Bath with 14 on-site parking spaces, and being offered at a low $196k per door and $277 per foot! The property will be delivered with RTI's and approved plans by the City of LA to begin building (2) ADU's in the back, which would turn the building into 16 units and add substantial income, all while still having plenty of on-site tenant parking spaces post-ADU completion. Opportunity to make...HUGE PRICE IMPROVEMENT & PRICED TO SELL! Bring all offers! 14 existing units in prime Mid City LA, all 2 Bed/1 Bath with 14 on-site parking spaces, and being offered at a low $196k per door and $277 per foot! The property will be delivered with RTI's and approved plans by the City of LA to begin building (2) ADU's in the back, which would turn the building into 16 units and add substantial income, all while still having plenty of on-site tenant parking spaces post-ADU completion. Opportunity to make it $171k per door post-ADU completion. In place 11.06 GRM on current rents with the upside to a 5.54 GRM, and a 5.61% cap rate on current rents and T12 actual expenses, with the upside to a 13.84% cap rate. 8.83 GRM and 7.53% cap rate after ADU completion, assuming all other rents remain the same. Some highlighted features include brand new electrical subpanels in all units, both roofs were replaced in 2017 and done with permits, EQ seismic retrofit work has been completed, copper plumbing, brand-new laundry room with new owner-owned washer & dryer machines (NO leases), new master water heaters, and EQ shut off valves have been installed on the gas meters. Some tenants are on RUBS for utility reimbursements to lower operating costs, and the building is separately metered for both gas & electricity. There's 95% rental upside for the next owner to achieve, and approximately 65% rental upside after ADU's are completed and assuming all other rents stay the same. There's everything to love about this prime and central Mid City location as it borders West Adams, Koreatown and Downtown Los Angeles and Pico Union, and is just blocks away from Country Club Park!
Listing Agent
Property Details for 1532 South Wilton Place
Zoning
LAR3
Parcel Number5073005012
Total Units14.0
Living Area9916
Source Living AreaVendor Enhanced
AreaMid Los Angeles (C16)
Vacancy Rate1
Lot Size Area13161
LISTING UPDATED: 12/10/2024 01:13 PM
Property Details for 1532 South Wilton Place
Status | Pending |
---|---|
MLS # | 24-419799 |
Days on Market | 110 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1960 |
Lot Size | 0.30 AC / 13,161 SF |
County | Los Angeles County |
Building Information for 1532 South Wilton Place
Stories2Residences-Year Built1960Building Size-Lot Size0.30 AC / 13,161 SF
Property Information for 1532 South Wilton Place
Property History for 1532 South Wilton Place
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1532 South Wilton Place
Taxable ValueLand$2,236,860Additions$676,260Total$2,913,120
Tax Record2024$36,730 ($3,061 / month)
Home Facts
Total Finished SqFt9,916 SqFtAbove Grade Finished SqFt9,916 SqFtLot Size13,157 SqFtStyleMulti-Family Res (5+ Units)ZoningLAR3CountyLOS ANGELESAPN5073-005-012
Schools near 1532 South Wilton Place
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 12 |
Rating | School | Distance |
---|---|---|
Carson-Gore Academy Of Enviornmental Studies PublicK to 5 | ||
Pio Pico Middle School Public6 to 8 | ||
Los Angeles Senior High School Public9 to 12 | ||
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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