2755 James M Wood Boulevard

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.

Listing information courtesy of: Janet Neman, Kidder Mathews of California, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of 11/23/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.