$1,460,000
2755 James M Wood BLVD Los Angeles, CA 90006
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$1,460,000
Est. payment /mo
8 BD
8 BA
3,777 SqFt
Active
2755 James M Wood BLVD Los Angeles, CA 90006
UPDATED:
10/09/2024 02:25 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,777 sqft
Price per Sqft $386
MLS Listing ID 24450019
Bedrooms 8
HOA Y/N No
Year Built 1952
Lot Size 6,756 Sqft
Property Description
Opportunity to acquire 2755 James M Wood Blvd, an 8-unit apartment building located in the heart of prime Koreatown, one of the most desirable and rapidly developing submarkets of Los Angeles. Originally constructed in 1952, 2755 James M Wood Blvd, is a well-maintained two-story structure with strong cash flow and upside potential. Spanning 3,777 square feet on a 6,753 square foot lot, the property features eight thoughtfully designed one-bedroom, one-bath units. Four of these units have been tastefully upgraded with modern kitchens and bathrooms, vinyl plank flooring, and premium stainless-steel appliances, while all units boast open floor plans that create a bright and inviting atmosphere. Additional highlights include eight parking spaces (one designated for trash bins) and an on-site laundry facility for tenant convenience. The electrical panel has been recently upgraded, and the property is separately metered for gas and electricity. Moreover, there is Accessory Dwelling Unit (ADU) potential at the rear of the building, offering a further opportunity to increase income (Buyer to verify). With a complete interior renovation program, an investor can fully capitalize on the remaining rental upside, making this an exceptional investment opportunity. The Property is ideally positioned in prime Koreatown, one of the most sought-after and vibrant communities in Los Angeles. The Property is a Walker's Paradise, conveniently located amongst nearby amenities including enter tainment venues, restaurants, shopping, hotels, and nightlife. Tenants are less than half a mile away from Southwestern Law School, only 0.6 miles away from the Wilshire/Vermont Metro Red and Purple Line Station and 0.9 miles away from the Westlake/Macarthur Park Station, offering tenants excellent accessibility across Los Angeles. The Purple Line is currently undergoing construction to extend the line by 2026 with new stations servicing Miracle Mile, Beverly Hills, Westwood and Brentwood. Further, the Property is centrally located near major employment centers including Downtown LA, Beverly Hills, Century City, Hollywood, West Hollywood, and Mid-Wilshire. Located in an area with immense economic growth, 2755 James M Wood provides investors with the opportunity to acquire a well-maintained asset with significant upside potential.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Microwave, Refrigerator
Exterior
Garage Assigned
Total Parking Spaces 8
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5077025024
Special Listing Condition Standard
Listed by Janet Neman • Kidder Mathews of California, Inc.