523 S WESTMORELAND AVE

Estimated Monthly Payment: $47,882/mo 523 S WESTMORELAND AVE, Los Angeles, CA 90020 MLS# 18365610 Residential Income Listing Status: Active
14
56
30,280 sqft
62
31
0
5

REMARKS:

San Mar Manor is a 56-unit 1920s vintage value- add opportunity located in the highly desirable Koreatown sub-market. Built in 1927, the subject property is constructed of reinforced masonry and is situated on a 10, 200 square foot parcel, zoned LAR4. The property features well laid out floor plans consisting of 42 singles and 14 one-bedroom / one-bath units. The property is master-metered for all utilities and is subject to Los Angeles rent control statutes. San Mar Manor has undergone numerous capital improvements including a new electrical system that was completely re-wired less than 10 years ago and plumbing upgrades as units have been turned. Investors will have the opportunity to implement a comprehensive interior and exterior renovation to re-position the property into a truly unique 1920s vintage luxury community and increase rental income by an estimated 38 percent.

OVERVIEW:

18-365610:CLAW
Residential Income
Active
Mid-Wilshire
1927
30280
None
Other
Other

FEATURES:

Other

ROOM INFO:

14
56
56

FINANCIAL:

$10,500,000
$728,052

NEIGHBORHOOD & SCHOOL INFORMATION:

Broker Reciprocity Courtesy of Sean Rosenzweig - Marcus & Millichap

 

01369850 

 

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Data last updated: 08/19/2018