2375 West 12th Street

Los Angeles, CA 90006

$2,550,000
Price
10
Beds
11
Baths
12,306 Sq. Ft.
$207 / Sq. Ft.
12,306
Sq. Ft.
$207
per Sq. Ft.

Description

We are pleased to exclusively present 2375 W 12th Street, an 11-Unit multi-family apartment located in the Koreatown neighborhood of Los Angeles California, bordering Downtown. This value-add investment opportunity offers significant upside potential in a prime Southern California rental market. Constructed in 1923, the two-story building comprises a mix of spacious units, including one studio, six one-bedroom/one-bath units, and four two-bedroom/one-bath units, totaling 12,306 rentable square feet....We are pleased to exclusively present 2375 W 12th Street, an 11-Unit multi-family apartment located in the Koreatown neighborhood of Los Angeles California, bordering Downtown. This value-add investment opportunity offers significant upside potential in a prime Southern California rental market. Constructed in 1923, the two-story building comprises a mix of spacious units, including one studio, six one-bedroom/one-bath units, and four two-bedroom/one-bath units, totaling 12,306 rentable square feet. The property sits on a prominent 13,999 square foot corner lot and includes key amenities such as an on-site laundry facility and parking garages. With current rents over 70% below market value, this property provides investors with a significant opportunity to increase rental income. The potential to achieve a Pro Forma CAP rate of over 8.5% makes this asset particularly attractive. Additional income growth may also be realized through the potential addition of accessory dwelling units (ADUs), subject to buyer verification and city approval. Strategically located just minutes from Downtown Los Angeles and the heart of Koreatown, the property enjoys proximity to major business districts, popular retail outlets, restaurants, and grocery stores. It also benefits from excellent connectivity, with quick access to the 110 and 10 freeways and several public transportation options within Koreatown. The property is further distinguished by its R4-01 zoning and designation within a Transit Priority Area, making it an ideal candidate for redevelopment. This presents an exciting opportunity for long-term investors looking to maximize returns in one of Los Angeles' most vibrant and high-demand areas.
  1. Listed by Edward Pan • DRE #01894476 • Brokerage DRE #01895979 • Colliers International Greater Los Angel

Property Details for 2375 West 12th Street

Zoning
LAR4
Parcel Number
5076012009
Total Units
11.0
Living Area
12306
Source Living Area
Vendor Enhanced
Area
Mid-Wilshire (C17)
Vacancy Rate
0
Lot Size Area
14003
LISTING UPDATED: 11/05/2024 12:01 AM

Property Details for 2375 West 12th Street

StatusActive
MLS #24-457491
Days on Market54
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1923
Lot Size0.32 AC / 14,003 SF
CountyLos Angeles County

Building Information for 2375 West 12th Street

Stories2Residences-Year Built1923Building Size-Lot Size0.32 AC / 14,003 SF

Property Information for 2375 West 12th Street

Community / Development
Community / Development
  • Number Of Units: 11
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $176,723
  • Net Operating Income: $86,778.00
  • Gross Income: $5,400
  • Gross Rent Multiplier: $14.44
  • Actual Annual Gross Rent: $176,622.00
  • Garage Income: $3,600
  • Laundry Income: $1,800
  • Vacancy Allow Dollar: $5,299.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 89945
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3215
  • Lot Size Square Feet: 14003
Parking Details
Parking Details
  • Parking Garage: Garage Is Detached, Driveway
  • Total Parking: 11
  • Parking Features: Driveway
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Window Unit(s)
  • Heating: Forced Air
  • Heating Type: Forced Air
  • Equipment: Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-28-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $780.00
  • Unit Actual Rent: $780.00
  • Unit Projected Rent: $1,800.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,474.00
  • Unit Actual Rent: $8,844.00
  • Unit Projected Rent: $13,500.00
  • Like Units: 6
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,274.00
  • Unit Actual Rent: $5,095.00
  • Unit Projected Rent: $10,000.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $663,000.00
  • Assessed Improvement Percent: 30.23
  • Assessed Land Value: $1,530,000.00
  • Assessed Land Percent: 69.77
  • Assessed Total Value: $2,193,000.00

Property History for 2375 West 12th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2375 West 12th Street

Taxable ValueLand$1,560,600Additions$676,260Total$2,236,860
Tax Record2024$28,752 ($2,396 / month)
Home Facts
Total Finished SqFt12,306 SqFtAbove Grade Finished SqFt12,306 SqFtLot Size13,999 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLAR4CountyLOS ANGELESAPN5076-012-009

Schools near 2375 West 12th Street

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 - 9 to 12
Rating
School
Distance
Leo Politi Elementary School
PublicK to 5

Berendo Middle School
Public6 to 8

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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2375 West 12th Street is a multi-family home for sale in Los Angeles, CA 90006. This property was listed for sale on October 28, 2024 by Colliers International Greater Los Angel, it's currently listed at $2,550,000. It has been on the market for a total of 54 days and was last sold on June 16, 2021. This listing's school district is Los Angeles Unified School District. Nearby schools include Leo Politi Elementary School, Berendo Middle School and Contreras Learning Center-School Of Social Justice. 2375 West 12th Street is a 10-bed, 11-bath, 12,306 sqft multi-family home built in 1923.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Colliers International Greater Los Angel, Edward Pan, DRE #01894476

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.