Description
We are pleased to offer the opportunity to acquire this four (4) unit value-add multifamily investment opportunity located at 1822 S. New England Street, well situated in the heart of Korea-town. The investment consists of one (1) structure, constructed of wood frame and stucco on a raised foundation built in 1913, with a square footage of 4,506 on a 9,112-square foot lot. The property consists of four (4) spacious 2-bedroom +1-bathroom units (Permitted 1-bedroom + 1-bathroom units on title), and the development opportunity to construct two (2) additional units, as well as two (2) ADU's to further increase cash flow. The site offers a zoning ordinance of LARD1.5, which allows for the construction of 6 total units by right. With a Tier 2 TOC (35% density bonus), this allows for the development of an additional 4 units, totaling a potential 10 buildable units. (Buyer to verify and do their own due diligence)
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8BEDS
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0.21ACRES
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0BATHS
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01/2 BATHS
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4,506SQFT
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$298$/SQFT
School Ratings & Info
Description
We are pleased to offer the opportunity to acquire this four (4) unit value-add multifamily investment opportunity located at 1822 S. New England Street, well situated in the heart of Korea-town. The investment consists of one (1) structure, constructed of wood frame and stucco on a raised foundation built in 1913, with a square footage of 4,506 on a 9,112-square foot lot. The property consists of four (4) spacious 2-bedroom +1-bathroom units (Permitted 1-bedroom + 1-bathroom units on title), and the development opportunity to construct two (2) additional units, as well as two (2) ADU's to further increase cash flow. The site offers a zoning ordinance of LARD1.5, which allows for the construction of 6 total units by right. With a Tier 2 TOC (35% density bonus), this allows for the development of an additional 4 units, totaling a potential 10 buildable units. (Buyer to verify and do their own due diligence)
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-30T00:31:05.86. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.