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    1322 S Catalina St

    Los Angeles, CA 90006
    • $2,550,000
    • STATUS: Active
    • ON SITE: 18 days
    • ID#: 20-595238
    UPDATED: 33 min ago
    $2,550,000
    • 4
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 10,066
      SQFT
    • $253
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1927
    County:

    School Ratings & Info

    Description

    Marcus & Millichap is pleased to present 1322 South Catalina Street, Los Angeles, CA 90006. Built in 1927, this unique 18-unit property totals 10,066 SF located in the heart of Koreatown, between Normandie Ave & Vermont Ave. The building features a unit mix that includes 14 singles, 2 junior one-bedrooms*, and 2 one-bedroom apartments.This offering presents an investor the opportunity to capture a 69% overall increase in rent with a pro forma CAP rate of 8.07% through renovations when the units turn. The property is being offered at a low price per unit of $141,667 and a low price per square foot of $253. The building is well-maintained and separately metered for gas and electricity.The Koreatown submarket remains one of the most desirable addresses for both living and working for residents who need to commute to both Downtown Los Angeles and Hollywood. With over 110,000 people living within one mile and an average home value of over $830,000 within a three-mile radius.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-13T17:42:46.863. 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.randyplaice.com/homes/107180381
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    1322 S Catalina St Los Angeles, CA 90006

    • Price: $2,550,000
    • Status: Active
    • Updated: 33 min ago
    • ID#: 20-595238
    4
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    10,066
    SQFT
    $253
    $/SQFT
    1927
    Built
    Neighborhood:
    Mid Los Angeles
    County:
    Los Angeles
    Area:
    Mid Los Angeles
    Property Description
    Marcus & Millichap is pleased to present 1322 South Catalina Street, Los Angeles, CA 90006. Built in 1927, this unique 18-unit property totals 10,066 SF located in the heart of Koreatown, between Normandie Ave & Vermont Ave. The building features a unit mix that includes 14 singles, 2 junior one-bedrooms*, and 2 one-bedroom apartments.This offering presents an investor the opportunity to capture a 69% overall increase in rent with a pro forma CAP rate of 8.07% through renovations when the units turn. The property is being offered at a low price per unit of $141,667 and a low price per square foot of $253. The building is well-maintained and separately metered for gas and electricity.The Koreatown submarket remains one of the most desirable addresses for both living and working for residents who need to commute to both Downtown Los Angeles and Hollywood. With over 110,000 people living within one mile and an average home value of over $830,000 within a three-mile radius.
    Exterior Features

    Exterior Construction Stucco Lot Size Area 6805 Other Structures None Parking Garage None Paved YN Yes Roof Flat Total Parking 0

    Interior Features

    Baths Total 18.00 Cooling Air Conditioning Equipment Ceiling FanRefrigeratorRange/Oven Flooring Hardwood Heating Other

    Property Features

    Assessed Total Value 1056601 Entry Floor Number 1 Gross Income 184103 Gross Operating Income 178580 Like Units1 14 Like Units2 2 Like Units3 2 Net Operating Income 93935.00 Number Of Buildings 1 Number Of Units 18 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 84644 Type Of Units Apartment Year Built Source Vendor Enhanced Zoning R3-1

    Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-13T17:42:46.863. 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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    Valencia CA, 91355