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$ 2,875,000
Est. payment /mo
New
1240 S Norton AVE Los Angeles, CA 90019
18 Beds
16 Baths
9,822 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 9,822 sqft
Price per Sqft $292
MLS Listing ID 26917889
Bedrooms 18
HOA Y/N No
Year Built 1963
Lot Size 0.291 Acres
Property Description
Rare opportunity to acquire a 16-unit garden walk-up apartment building in the heart of Mid-City Los Angeles. Built in 1963, the property offers approximately 9,822 square feet of building area on a 12,963-square-foot lot. The unit mix consists primarily of one-bedroom apartments, along with a three-bedroom manager's unit.Six apartments will be delivered vacant, creating an immediate opportunity to renovate, reposition and increase rental income. Recent improvements include a new roof and an updated electrical system. Additional features include 16 secured parking spaces, on-site laundry, separately metered gas and electricity, and a completed earthquake retrofit.Conveniently located near the Pico and Washington Boulevard corridors with easy access to Koreatown, Mid-Wilshire, Downtown Los Angeles, Culver City, public transportation, shopping and dining. Zoned LAR3 and situated on a substantial 0.30-acre parcel, the property presents strong value-add potential in a centrally located Los Angeles rental market.
Location
State CA
County Los Angeles
Area C18 - Hancock Park-Wilshire
Zoning LAR3
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 16
Building
Faces West
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5081008018
Special Listing Condition Standard
Listed by Eric Quiros Capital Brokers #00846492