729 Yale Street

Description

Prime investment opportunity in the heart of Chinatown! Lot is LAR4 with TOC Tier 3 for high density development! The existing 7-unit apartment building is situated in an unbeatable location, steps away from schools, bus stations, banks, restaurants, grocery stores, and much more. Just minutes from the bustling hub of Downtown Los Angeles, this property offers unparalleled convenience and accessibility. Property under the process of Ellis Act Evictions - completed by early 2025 so you have the option of redeveloping the lot and increase density or keeping the apartment with existing tenants. The apartment is fully occupied with long-term tenants, providing a stable income stream. Current rents are under market value with the opportunity for increased ROI with future adjustments. Property is under RSO currently. Whether you're looking to expand your portfolio or secure a solid income-producing asset, this property is a rare find in one of LA's most sought-after neighborhoods. Don't miss the chance to own a cornerstone of this vibrant and historic community. Please DO NOT DISTURB TENANTS! DRIVE BY ONLY!

Listing information courtesy of: Erwin Pineda, Coldwell Banker Exclusive 818-371-0503. *Based on information from the Association of REALTORS/Multiple Listing as of 01/10/2025 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.