Kondominium kup w Parklabrea, Kalifornia

We are pleased to present 821 S Wilton Place, a Character French Normandy style 2-story, 20-unit value-add multi-family investment opportunity with 41%+ rental upside potential, located in the highly desirable Hancock Park adjacent submarket of Los Angeles, just west of Western Ave and south of Wilshire Blvd. Built in 1938, the building is comprised of 19 studios and 1 (1+1) units that average approximately 540+ gross square feet. Additionally, there are two non-conforming/bonus units in the basement, affording an investor the flexibility to capitalize on the potential addition of accessory dwelling units (ADU). The 10,786 square foot structure is situated on an 8,999 square foot LAR3 zoned lot. The property includes a rear backyard featuring mature pine trees, providing ample shade to this outdoor common area. There are 10 individual parking spots (with space to add bicycle and motorcycle parking) in the garage located below the building. The building's units feature large windows and include much of the original, colorful tile in the bathroom's stall showers and floor, and 11 of the units maintain hardwood flooring throughout. The property is separately metered for gas and electric, and there is a common area laundry room and master water heater in the basement. With a Walk Score of 86, the property's Hancock Park adjacent location, near the Wilshire Blvd and Western Ave intersection and 0.6 miles from the Wilshire/Western Metro Station, offers residents easy access to the countless shopping, dining, entertainment, and recreation options of Koreatown, Larchmont Village, Wilshire Center, Mid-Wilshire, and the revitalized Downtown Los Angeles less than 4 miles to the east. The building is 1.35 miles north of the 10 freeway, 2 miles south of the 2 and 101, and 3 miles northwest of the 110. 821 S Wilton Pl is well-positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns. MLS® ID: 22133633 Listed: 3/3/22 Updated: 10/14/22 Interior Features Kitchen Appliances: Refrigerator Total Bedrooms: 0 Total Bathrooms: 21 Laundry Description: Common Area, In Garage Cooling: None Exterior/Building Features Lot Size: 8,999 ft2 lot Other Property Details Area Name: C18 - Hancock Park-Wilshire Garage: Yes Garage Spaces: 10 Parking: Y Parking Total: 10.0 View: N County: Los Angeles Pool: No Total Stories: 2 Zoning: LAR3 Property History Date Event Price Value 9/1/22 Price Change $4,100,000 -1% 7/25/22 Price Change $4,150,000 0% 6/28/22 Price Change $4,175,000 0% 4/6/22 Price Change $4,200,000 -2% Courtesy of Keller Williams Realty Los Feliz, Matthew Kanner, Listing Contact: Based on information from California Regional Multiple Listing Service, Inc. as of 10/14/22. 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.