Listed by Logan Altman, Altman Apartments LLC,

1864 Cordova Street

Los Angeles, CA, 90007

$5,950,000

$539 per ft²
$5,950,000
$539 per ft²
Active
Active
 - For Sale
carpenters-square
11,024 ft²
property_type
Commercial
calendar
Built 1956
44 unit Single Room Occupancy residential hotel property with plans in ready to issue status to add kitchens and bathrooms to all units. Proposed plans ready to start construction include 41 studios and 3 one bedroom one bath units. Electrical upgrade to 600 AMPs has been initiated and MEPs are in plan check. Buyer has the option to operate As Is with 44 SRO units leased to new tenants at $1,050 per month with a proforma estimated cap rate of 6.26%. Do not walk property, call listing agent for more details. This is a high cash flow opportunity in a Mid City LA neighborhood with a lot of new construction on the same block.
MLS® ID:
SR22142666
Listed:
5/31/22
Updated:
8/8/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
None

Exterior/Building Features

Lot Size
0.31 acres lot
Lot Details
Level, Over 40 Units/Acre, Near Public Transit, Rectangular Lot, Street Level

Other Property Details

Area Name
C16 - Mid Los Angeles
Garage
No
Parking
N
View
N
County
Los Angeles
Water Source
Public
Pool
No
Total Stories
2
Zoning
R3-1

 

Listed by Logan Altman, Altman Apartments LLC,

Based on information from California Regional Multiple Listing Service, Inc. as of 8/8/22. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 12:21 AM UTC, 8/8/22

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