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SOLD 9/14/2022

175 N Edgemont Street, Los Angeles, CA 90004$2,500,000

--
bed
1
bath
7312
ft2
· 10990
ft2 lot
$342 / ft2

Listing provided courtesy of Listing Broker: Kevin Kawaoka, NAI Capital, Inc.
Source CRMLS;
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OFFERED FOR THE FIRST TIME IN 17 YEARS! 175 & 179 N Edgemont Street is comprised of Two 6-unit multifamily structures (side by-side) located in the trendy and high growth area of Koreatown. Each building sits on it's own parcel (5518-012-015 & 5518-012-016) and is comprised of a rare mix of 6 extra large Studio + Den apartment homes (12 units total); (Ample parking 14 spaces). Easy to own and operate, simple management. These two-story walk-up style complexes were built in 1940. Each unit is +- 600 square feet on average. These twin sister buildings command a corner location and are located less than half a mile to the metro station. The area boasts a healthy score of 88 on walkability providing the ideal location & crossroads for where millennials want to live, work and play. Incredible Development Opportunity: PRICED AT LAND VALUE FOR 2 CONTIGUOUS MASSIVE CORNER LOTS OF NEARLY 11,000 SQ, FT. TOTAL WITH EXTRA WIDE FRONTAGE ON BOTH STREETS. ZONED LAR3 LOCATED IN OPPOUTUNITY ZONE + BENEFIT OF A TOC TIER 3 OVERLAY + DENSITY BONUS FOR FUTURE DEVELOPMENT POTENTIAL (Buyer to conduct their own due diligence with the City of Los Angeles).

HOA

No HOA

On market

a month

Year built

1940

Property type

Multi-Family

Parking

14

MLS

22167691

Price / Sq.Ft.

$342 / ft2

Status

Closed

Buyer’s Brokerage Commission

2%

Home details for 175 N Edgemont Street

Interior Features & Layout
Interior Features
•   
Interior Features: Ceiling Fan(s)
Heating & Cooling
•   
Has Heating
•   
Heating Details: Wall Furnace
Interior Size
•   
Building Area Total: 7312.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Parking Available: 1
•   
Parking Features: Gated
Building Info
•   
Zoning: LAR3
•   
Stories Total: 2
Lot Info
•   
Lot Size Source: Assessor
•   
Lot Size Acres: 0.2523
•   
Lot Size Area: 10990.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 1
•   
Total Units: 12
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 196498.00
•   
Cap Rate: 5.30
•   
Total Expenses: 63994.00
•   
Gross Multiplier: 12.46
Tax/Assessment Info
•   
Gross Income: 200508.00
Lease Info
•   
Net Operating Income: 132504.00
Listing Info
•   
Status: Closed
Multi Unit Information
Multi Unit Information
•   
# Of Units: 13
Unit 1 Information
•   
Unit 1 Total Units: 12
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 1392.00
•   
Unit 1 Total Rent: 16709.00
School Neighborhood & Directions
School Info
•   
Directions: North of Wilshire Blvd, South of Beverly Drive, East of Normandie Ave, West of Vermont Ave.
Other
Calculation
•   
Dom: 48

Neighborhood snapshot

37
Properties for sale
23.5
Median days on market
$659.19
Median sold price/sqft
99.74%
Sold/List %
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walk score® :

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Property History for 175 N Edgemont Street

09/14/2022
09/14/2022
CRMLS #22167691
sold
CRMLS #22167691
$2,500,000
+0.04%
08/15/2022
08/15/2022
CRMLS #22167691
active
CRMLS #22167691
$2,499,000
--7.27%
06/14/2022
06/14/2022
CRMLS #22167691
active
CRMLS #22167691
$2,695,000

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