2765 W 8th Street,  Los Angeles CA, 90005 (Residential Income)

4,408 sqft
Status: Sold
MLS#: PW15130718
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Last Updated: 12/7/2016 12:03 PM
Description for 2765 W 8th Street Los Angeles, CA 90005
* REHAB OPPORTUNITY* The subject property is a four-unit apartment building located at 2765 W. 8th Street in the desirable Koreatown district. This property was purchased out of foreclosure, needs to be rehabbed, and will be sold in as-is condition. The unit mix at this property consists of two 1BR/1BA units and two 2BR/1BA units. Each unit has an open floorplan with hardwood flooring, fireplace, and washer/dryer hookups. The units are in different states of rent-readiness and there will be some level of rehab required on each unit. The building is built into a natural slope that falls away from 8th Street that allows for an on-grade basement area that is accessed from the rear of the building. There is an open parking area (securitized) to the rear of the property as well with space for five vehicles. The previous owner had pulled permits to perform certain improvements to this building and some of the improvements were started and not finished. The largest of these projects was an effort to convert the space under the building into a functional basement to be used for storage. Permits were pulled and this project was started, but never completed. If necessary, the seller will provide financing for this property through an affiliate of theirs.
Price
Sold Price:
$731,000
Sold Date:08/18/2015
Los Angeles
4,408 (approx)
PW15130718
Closed
Description
* REHAB OPPORTUNITY* The subject property is a four-unit apartment building located at 2765 W. 8th Street in the desirable Koreatown district. This property was purchased out of foreclosure, needs to be rehabbed, and will be sold in as-is condition. The unit mix at this property consists of two 1BR/1BA units and two 2BR/1BA units. Each unit has an open floorplan with hardwood flooring, fireplace, and washer/dryer hookups. The units are in different states of rent-readiness and there will be some level of rehab required on each unit. The building is built into a natural slope that falls away from 8th Street that allows for an on-grade basement area that is accessed from the rear of the building. There is an open parking area (securitized) to the rear of the property as well with space for five vehicles. The previous owner had pulled permits to perform certain improvements to this building and some of the improvements were started and not finished. The largest of these projects was an effort to convert the space under the building into a functional basement to be used for storage. Permits were pulled and this project was started, but never completed. If necessary, the seller will provide financing for this property through an affiliate of theirs.
Listing Information
Property Type: Cluster, 2 Story
0.14 Acres 6,269 sq.ft. 4,408 (approx)
1914 2
Public Water Service
Sewer at Street
4 Total
Neighborhood
Room Information
Interior Features
Living Room
High Ceiling
Exterior / Lot Features
5 Parking Spaces, Uncovered, Gated Parking
None
No Pool
Sidewalks, Urban
Financial Considerations
5077020008
$79,200 Income ,$26,560Expense
Listing Price History

Los Angeles Real Estate

Los Angeles is located in California. Los Angeles, California 90005 has a population of 3,804,503.

The median household income in Los Angeles, California 90005 is $49,745. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Los Angeles 90005 is 34.1 years.

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Courtesy: Marcus & Millichap Matthew Wenzel
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