2375 West 12th Street
$2,550,000
10
11
12,306
12,306
$207
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.
- Listed by Edward Pan • DRE #01894476 • Brokerage DRE #01895979 • Colliers International Greater Los Angel
Property Details for 2375 West 12th Street
Zoning
LAR4
Parcel Number5076012009
Total Units11.0
Living Area12306
Source Living AreaVendor Enhanced
AreaMid-Wilshire (C17)
Vacancy Rate0
Lot Size Area14003
LISTING UPDATED: 11/05/2024 12:01 AM
Property Details for 2375 West 12th Street
Status | Active |
---|---|
MLS # | 24-457491 |
Days on Market | 54 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1923 |
Lot Size | 0.32 AC / 14,003 SF |
County | Los 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
Property History for 2375 West 12th Street
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 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 | ||
Contreras Learning Center-School Of Social Justice 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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