2325 S Ridgeley DR, Los Angeles, CA 90016
2325 S Ridgeley DR, Los Angeles, CA 90016
2325 S Ridgeley DR, Los Angeles, CA 90016
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,950,000
Est. payment /mo
8 Beds
16 Baths
7,152 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 7,152 sqft

Price per Sqft $272

MLS Listing ID 26854775

Bedrooms 8

HOA Y/N No

Year Built 1965

Lot Size 9,500 Sqft

Property Description

Large 7,152 SF 8-Unit value-add building cash flowing at a current 4% Cap Rate with a whopping 100% upside to a 10.2% Cap on Proforma! Attractively priced at only 243k/unit for entirely 2-bedroom 1-bath units and only $272/SF. Large 9,500 SF lot with plans to add 8 detached ADUs to achieve an incredible 12.2% Current Cap Rate, 18.3% Proforma Cap, 166k/unit, and only $266/SF after taking into account all the construction costs (~715k assuming $250/SF). The exterior of the property has undergone detailed renovations and features on-site parking as well as an updated laundry room. Electricity and gas are individually metered which minimizes operating expenses. Prime Mid-City location just minutes away from Beverly Hills, Culver City, West Adams, as well as many hip neighborhood attractions, restaurants, bars, shops, such as Cento Pasta Bar, The Blending Lab Winery, Tartine Bakery, Farmhouse Kitchen Thai Cuisine, Mu.S Coffee, Cumulus luxury 31-story 1,210 unit mixed-use project, 260 units Habitat Residences campus with retail and creative office, and much more.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LARD1.5

Interior

Heating Wall Furnace

Fireplace No

Exterior

Parking Features Gated

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5063023008

Special Listing Condition Standard

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Listed by Julio Ruiz Global Platinum Properties, Inc. #01911261

NEARBY SCHOOL & BUSINESS

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