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2255 W 14TH St

Los Angeles, CA 90006
  • $4,700,000
  • STATUS: Active
  • ON SITE: 102 Days
  • MLS #: 22-125505
UPDATED: 129 min ago
$4,700,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 16,368
    SQFT
  • $287
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1912
County:

School Ratings & Info

Description

The Middleton Apartments is a value-add property with 30 apartment units. Situated along 14th Street, the property was built in 1912 of wood-frame stucco and offers 6 Studios and 24 Studios plus a bonus room. Thirteen of the units have been remodeled with flooring, kitchen cabinets, countertops, updated bathrooms, fixtures and lighting. A Buyer will have the opportunity to remodel the remaining 17 units as they become vacant.The building has a new 600amp main electrical panel located in the rear of the property. The renovated units have been rewired from the main panel, subpanels with the units were added, and the individual units rewired. Those units are now sub-metered and individually metered for electricity the remaining seventeen units are still master-metered. As units become vacant a new Buyer can continue to sub-meter units to reduce utility costs. The building is master metered for gas. Other improvements include updating of the hallways and common areas, and exterior paint. Middleton Apartments is in very close proximity to Downtown Los Angeles' South Park District, Mid-City, USC and Koreatown. With a central location sandwiched between Downtown Los Angeles and Koreatown it's only a matter of time before this submarket begins to blossom and gentrify.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-20T23:43:00.543. 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/125468249
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2255 W 14TH St Los Angeles, CA 90006

  • Price: $4,700,000
  • Status: Active
  • On Site: 102 Days
  • Updated: 129 min ago
  • MLS #: 22-125505
0
Beds
0
Baths
0
½ Baths
0.17
Acres
16,368
SQFT
$287
$/SQFT
1912
Built
Neighborhood:
Mid Los Angeles
County:
Los Angeles
Area:
Mid Los Angeles
Property Description
The Middleton Apartments is a value-add property with 30 apartment units. Situated along 14th Street, the property was built in 1912 of wood-frame stucco and offers 6 Studios and 24 Studios plus a bonus room. Thirteen of the units have been remodeled with flooring, kitchen cabinets, countertops, updated bathrooms, fixtures and lighting. A Buyer will have the opportunity to remodel the remaining 17 units as they become vacant.The building has a new 600amp main electrical panel located in the rear of the property. The renovated units have been rewired from the main panel, subpanels with the units were added, and the individual units rewired. Those units are now sub-metered and individually metered for electricity the remaining seventeen units are still master-metered. As units become vacant a new Buyer can continue to sub-meter units to reduce utility costs. The building is master metered for gas. Other improvements include updating of the hallways and common areas, and exterior paint. Middleton Apartments is in very close proximity to Downtown Los Angeles' South Park District, Mid-City, USC and Koreatown. With a central location sandwiched between Downtown Los Angeles and Koreatown it's only a matter of time before this submarket begins to blossom and gentrify.
Exterior Features

Lot Size Area 7503 Other Structures None Parking Garage None Total Parking 0

Interior Features

Baths Total 30.00 Cooling Wall/Window Equipment Garbage Disposal Heating Wall

Property Features

Assessed Total Value 3349343 Gross Income 38571 Gross Operating Income 385715 Like Units1 24 Like Units2 6 Net Operating Income 204358.00 Number Of Buildings 1 Number Of Units 30 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 172746 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Adam Zunder DRE#01821053 of Iconic Investments.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-20T23:43:00.543. 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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