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1822 S New England St

Los Angeles, CA 90006
  • $1,575,000
  • STATUS: Active
  • ON SITE: 15 Days
  • MLS #: 22-154873
UPDATED: 30 min ago
$1,575,000
  • 4
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,506
    SQFT
  • $350
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1913
County:

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)

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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.
www.searchdesertrealestate.com/homes/128524872
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1822 S New England St Los Angeles, CA 90006

  • Price: $1,575,000
  • Status: Active
  • On Site: 15 Days
  • Updated: 30 min ago
  • MLS #: 22-154873
4
Beds
0
Baths
0
½ Baths
0.21
Acres
4,506
SQFT
$350
$/SQFT
1913
Built
Neighborhood:
Mid Los Angeles
County:
Los Angeles
Area:
Mid Los Angeles
Property 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)
Exterior Features

Lot Size Area 9287 Other Structures None Parking Garage Other Total Parking 8

Interior Features

Baths Total 4.00 Cooling Other Equipment FreezerRange/OvenRefrigeratorOther Heating Other

Property Features

Assessed Total Value 1103736 Gross Income 62496 Gross Operating Income 62496 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Net Operating Income 32898.00 Number Of Buildings 1 Number Of Units 4 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 29598 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Lard1.5

Listing provided courtesy of Davis Saadian DRE#01921748 of Keller Williams Beverly Hills.


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.
 
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