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Tricia Mcmullan

tricia.mcmullan@redfin.com +1(626) 318-7433

$ 1,550,000

Est. payment -/mo

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Price Dropped by $100K

2562 W 11th ST Los Angeles, CA 90006

8 Beds

8 Baths

6,270 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,270 sqft

Price per Sqft $247

MLS Listing ID 26998947

Bedrooms 8

HOA Y/N No

Year Built 1939

Lot Size 10,010 Sqft

Lot Dimensions Assessor

Property Description

2562 W. 11th St. is an 8 unit apartment building ideally located in Koreatown just blocks from the intersection of Vermont Ave and Olympic Blvd. Built in 1939, the property consists of (8) 1 bed / 1 bath units spread out over 6,270 net rentable square feet and sits on a large 10,005 square foot LAR4 zoned lot. Each unit offers a spacious layout of approximately 784 square feet, and the property features eight private garages, a rare amenity in one of the densest neighborhoods in Los Angeles. With approximately 39% upside in rents, 2562 W. 11th St. is a true value-add opportunity, while the large LAR4 lot and detached garages create potential for future ADU development, giving an investor multiple paths to grow income and long term value. Koreatown has established itself as one of the most vibrant rental markets in Los Angeles, with a nonstop dining, nightlife, and entertainment scene that draws renters from across the city. The Vermont and Olympic corridor just north of the property is set for a major transformation with Link Kora, a full-block mixed-use development by Grubb Properties planned to bring 228 new apartments and Target-anchored retail to the neighborhood. The property has a Walk Score of 87, with Metro Rapid service along Vermont Ave, the Metro B and D Lines at Wilshire/Vermont, and quick access to the 10 and 110 Freeways connecting tenants to Downtown LA, Hollywood, and the Westside. The combination of a central location, significant rental upside, and a large LAR4 lot makes this an opportunity to own a generational asset in one of LA's most dynamic neighborhoods.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR4

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Appliance Refrigerator

Laundry None

Exterior

Parking Features Covered, Private

Garage Spaces 8.0

Garage Description 8.0

Pool None

Community Features Gated

View Y/N Yes

View City Lights

Roof Type Composition,Shingle

Total Parking Spaces 8

Private Pool No

Building

Faces North

Story 2

Entry Level Multi/Split

Sewer Other

Architectural Style Mid-Century Modern

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5076010006

Security Features Carbon Monoxide Detector(s),Gated Community,Smoke Detector(s)

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by William James Lyon Stahl Investment Real Estate, Inc. #01734419