3520 W 5Th Street
Los Angeles, CA 90020
$200,000.00 (-8.02%)
Active for $2,295,000
Beds: N/A Baths: Structure Size: N/A sqft Lot Size: 10,587 sqft
| MLS | 24444893 |
| Year Built | |
| Property Type | |
| County | Los Angeles |
| Status | Active |
| Active | $2,295,000 |
| Structure Size | N/A sqft |
| Lot Size | 10,587 sqft |
| Beds | N/A |
| Baths |
Description
3 or More Options - Option 1 - Hold as conventional rental and add 2 ADUs; Option 2 - Develop-Build up to 50 potential units with AB 1287 or 26 units By-Rightbased on R4-2 zoning, Tier 3 TOC Zone. Density Bonus added. Opportunity Zone. (Independently verify with City Planning and/or other planning professionals) (PropertyReport available on request) Option 3 - Hold as conventional rental and develop later. ADU concepts based on a Consultant Schematic. ADU units and associated rents areprojected. The rather conventional 50s exterior belies the interior vintage style. Unit interiors average just under 1500 SF. Most units retain vintage design touches withupdated modern amenities. More like homes than apartments, the units give the sense of being in a charming Hancock Park home. A truly, one-of-a kind building. Oh, anddid I mention it's smack dab in the middle of the Korea Town scene. Short distance to the iconic Chapman Plaza and public transportation. WalkScore.com: 95. Severalexterior virtual pictures including the main photo showing many color options have been added to the photos along with the current interior & exterior property photos. Clickon video links to see drone view. Gross income includes parking, laundry and other income in addition to projected rents for the possible addition of ADUs.
Listing information courtesy of: Wes Wellman, Wellman Realty Co. 310-829-7423. *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.
Location
Contact a Local Realtor®
Kenneth Linares
REALTOR®
Direct: 3102996808
Email: Email Me
DRE: 02178609
DRE #01873088
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