1240 S Norton Ave, Los Angeles, CA 90019
- $2,875,000
- 18
- BD
- 16
- BA
- 9,822
- SqFt
- List Price
- $2,875,000
- MLS#
- 26917889
- Status
- ACTIVE
- Type
- Multifamily
- Bedrooms
- 18
- Bathrooms
- 16
- Living Area
- 9,822
Property Description
Rare opportunity to acquire a 16-unit garden walk-up apartment building in the heart of Mid-City Los Angeles. Built in 1963, the property offers approximately 9,822 square feet of building area on a 12,963-square-foot lot. The unit mix consists primarily of one-bedroom apartments, along with a three-bedroom manager's unit.Six apartments will be delivered vacant, creating an immediate opportunity to renovate, reposition and increase rental income. Recent improvements include a new roof and an updated electrical system. Additional features include 16 secured parking spaces, on-site laundry, separately metered gas and electricity, and a completed earthquake retrofit.Conveniently located near the Pico and Washington Boulevard corridors with easy access to Koreatown, Mid-Wilshire, Downtown Los Angeles, Culver City, public transportation, shopping and dining. Zoned LAR3 and situated on a substantial 0.30-acre parcel, the property presents strong value-add potential in a centrally located Los Angeles rental market.
Additional Information
- Year Built
- 1963
- Garage
- Assigned
Mortgage Calculator
Courtesy of Capital Brokers, Eric Quiros.
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