Condominium buy in Jefferson California

Price Reduced by 150k! Once in a lifetime Opportunity 100% Vacant 6 Units with plans for 3 ADUs priced at only 278k/door in Prime Westlake area. Amazing Value Add Fixer project with Incredible upside to 6.4% Cap Rate and 11.6 GRM after renovations. Preliminary plans to add 3 ADUs including 1 Attached 3 bed 2 bath unit in Garages + 2 detached one-bedroom units in the parking area. Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential. Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown. Individually Metered for Gas & Electricity. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of 3 ADUs 1,790 SF at 200/SF (358k) MLS® ID: 22205397 Listed: 10/2/22 Updated: 10/17/22 Interior Features Total Bedrooms: 11 Total Bathrooms: 10 Cooling: None Heating: Wall Furnace Exterior/Building Features Lot Size: 7,084 ft2 lot Architectural Style: Contemporary Other Property Details Area Name: C42 - Downtown L.A. Garage: No Parking: None View: Y County: Los Angeles Pool: No Zoning: LAR3 Property History Date Event Price Value 10/13/22 Price Change $2,145,000 -6% Courtesy of KW Advisors, Alex Sacker, Listing Contact: Based on information from California Regional Multiple Listing Service, Inc. as of 10/17/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.