1532 S Wilton Place
Los Angeles, CA 90019
- – beds
- – baths
- – sqft
- 13,161 sqft lot
- 1960 build
- – on site
HUGE PRICE IMPROVEMENT & PRICED TO SELL! Bring all offers! 14 existing units in prime Mid City LA, all 2 Bed/1 Bath with 14 on-site parking spaces, and being offered at a low $196k per door and $277 per foot! The property will be delivered with RTI's and approved plans by the City of LA to begin building (2) ADU's in the back, which would turn the building into 16 units and add substantial income, all while still having plenty of on-site tenant parking spaces post-ADU completion. Opportunity to make it $171k per door post-ADU completion. In place 11.06 GRM on current rents with the upside to a 5.54 GRM, and a 5.61% cap rate on current rents and T12 actual expenses, with the upside to a 13.84% cap rate. 8.83 GRM and 7.53% cap rate after ADU completion, assuming all other rents remain the same. Some highlighted features include brand new electrical subpanels in all units, both roofs were replaced in 2017 and done with permits, EQ seismic retrofit work has been completed, copper plumbing, brand-new laundry room with new owner-owned washer & dryer machines (NO leases), new master water heaters, and EQ shut off valves have been installed on the gas meters. Some tenants are on RUBS for utility reimbursements to lower operating costs, and the building is separately metered for both gas & electricity. There's 95% rental upside for the next owner to achieve, and approximately 65% rental upside after ADU's are completed and assuming all other rents stay the same. There's everything to love about this prime and central Mid City location as it borders West Adams, Koreatown and Downtown Los Angeles and Pico Union, and is just blocks away from Country Club Park!
Last checked:
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Last updated Oct 29, 2024
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MLS# 24419799 —
The Building
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Year Built:1960
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New Construction:No
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Building Area Total:9916.00
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# of Buildings:2
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Total Number Of Units:14
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Stories Total:2
Interior
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Features:Ceiling Fan(s)
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Levels:Two
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Entry Location:Main Level
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Fireplace:No
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Fireplace:None
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Laundry:Washer Included, Dryer Included, Community
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Laundry:1
Location
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Directions:North of Venice, South of Pico, West of Western, East of Arlington
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Latitude:34.04437100
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Longitude:-118.31404100
The Property
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Property Type:Residential Income
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Zoning:LAR3
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Lot Size Area:13161.0000
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Lot Size Dimensions:74x179
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Lot Size Acres:0.3021
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Lot Size SqFt:13161.00
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Security Features:Gated Community
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Additional Parcels:No
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5073005012
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
Appliances
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Appliances:Dishwasher, Disposal, Microwave, Refrigerator
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Included:Yes
The Community
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Senior Community:No
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Association:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Assigned, Covered, Driveway, Parking Space
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Parking Spaces:14.00
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Uncovered Spaces:8.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
8/15/24
Aug 15, 2024
|
Price Changed | CRMLS_CA | $2,750,000 | -3.5% |
|
7/25/24
Jul 25, 2024
|
Listed / Active | CRMLS_CA | $2,850,000 | 1.8% (0.7% / YR) |
|
12/10/21
Dec 10, 2021
|
CRMLS_CA | $2,800,000 | -13.8% |
