Description
We are pleased to offer the opportunity to acquire this four (4) unit value-add multifamily investment opportunity located at 1822 S. New England Street, well situated in the heart of Koreatown. The investment consists of one (1) structure, constructed of wood frame and stucco on a raised foundation built in 1913, with a square footage of 4,506 on a 9,112-square foot lot. The property consists of four (4) spacious 2-bedroom +1-bathroom units (1-bedroom + 1-bathroom units legally on title), and the development opportunity to construct two (2) additional units, as well as two (2) ADU's to further increase cash flow. The site offers a zoning ordinance of LARD1.5, which allows for the construction of 6 units by right. With a Tier 2 TOC (35% density bonus), this allows for the development of an additional 4 units, totaling a potential 10 buildable units. (Buyer to verify and do their own due diligence)
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4BEDS
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0.21ACRES
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0BATHS
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01/2 BATHS
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4,506SQFT
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$350$/SQFT
School Ratings & Info
Description
We are pleased to offer the opportunity to acquire this four (4) unit value-add multifamily investment opportunity located at 1822 S. New England Street, well situated in the heart of Koreatown. The investment consists of one (1) structure, constructed of wood frame and stucco on a raised foundation built in 1913, with a square footage of 4,506 on a 9,112-square foot lot. The property consists of four (4) spacious 2-bedroom +1-bathroom units (1-bedroom + 1-bathroom units legally on title), and the development opportunity to construct two (2) additional units, as well as two (2) ADU's to further increase cash flow. The site offers a zoning ordinance of LARD1.5, which allows for the construction of 6 units by right. With a Tier 2 TOC (35% density bonus), this allows for the development of an additional 4 units, totaling a potential 10 buildable units. (Buyer to verify and do their own due diligence)
Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-25T13:43:06.753. 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.