CA > Los Angeles
Los Angeles, CA 90006,1047 Irolo ST
Los Angeles, CA 90006,1047 Irolo ST
Los Angeles, CA 90006,1047 Irolo ST
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

The Warburton Team

+1(626) 630-2141
$2,150,000
Est. payment /mo
20 Baths
8,712 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 8,712 sqft

Price per Sqft $246

MLS Listing ID 25497079

HOA Y/N No

Year Built 1926

Lot Size 5,902 Sqft

Property Description

We are pleased to present a twenty (20) unit multifamily property located at 1047 Irolo Street in Los Angeles, California. The property is situated in a n ideal Koreatown location just south of Olympic Boulevard and east of Western Ave. Built in 1926, this property is comprised of twenty (20) studio units. Two (2) units will be de livered vacant allowing an investor to capture market rents on these units from day one. This property boasts a unique Nubian-inspired architecture, with the building resembling the grandeur of the Pyramids of Meroe. In addition, the property is master metered for gas, allowing rent to be increased by 5% annually. Averaging over 435 SF each, these large studio units have over 45% rental upside potential. The property includes a roughly 200 SF laundry room for tenants, allowing an investor to net additional income. This is the f first time in over 30years this property has been on the market. Situated in an ideal Koreatown location, this twenty (20) unit property presents an excellent opportunity for a value-add investor to capitalize on the tremendously rental upside.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR4

Interior

Heating Wall Furnace

Fireplace No

Appliance Dryer, Washer

Exterior

Parking Features None

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5080033010

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Jason Tuvia • Marcus & Millichap

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