We are pleased to exclusively present 2375 W 12th Street, an 11-Unit multi-family apartment located in the Koreatown neighborhood of Los Angeles California, bordering Downtown. This value-add investment opportunity offers significant upside potential in a prime Southern California rental market. Constructed in 1923, the two-story building comprises a mix of… Read More spacious units, including one studio, six one-bedroom/one-bath units, and four two-bedroom/one-bath units, totaling 12,306 rentable square feet. The property sits on a prominent 13,999 square foot corner lot and includes key amenities such as an on-site laundry facility and parking garages. With current rents over 70% below market value, this property provides investors with a significant opportunity to increase rental income. The potential to achieve a Pro Forma CAP rate of over 8.5% makes this asset particularly attractive. Additional income growth may also be realized through the potential addition of accessory dwelling units (ADUs), subject to buyer verification and city approval. Strategically located just minutes from Downtown Los Angeles and the heart of Koreatown, the property enjoys proximity to major business districts, popular retail outlets, restaurants, and grocery stores. It also benefits from excellent connectivity, with quick access to the 110 and 10 freeways and several public transportation options within Koreatown. The property is further distinguished by its R4-01 zoning and designation within a Transit Priority Area, making it an ideal candidate for redevelopment. This presents an exciting opportunity for long-term investors looking to maximize returns in one of Los Angeles' most vibrant and high-demand areas. Read Less
Property listed by Colliers International Greater Los Angel, Edward Pan 949-724-5500
Listing Snapshot
Days Online
32
Last Updated
Property Type
Other
Beds
10
Square Ft.
12,306
Lot Size
0.32 Acres
Year Built
1923
MLS Number
24457491
30 Days Snapshot Of 90006
$727k
+5%
(avg) sold price
2
-33%
homes sold
56
-25%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1923, Building area total: 12,306, Levels: Two, Living area: 12306, 2 stories, 1 building
Heating
ForcedAir
Income
Gross income: $5,400, Net operating income: $86,778
Lot
0.3215 acres, 14,003 square feet, Size: 14,003
Parking
11 totals parking, Driveway
Property
Zoning: LAR4
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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