2892 W 7th St - 7th St
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2892 W 7th St - 7th St
Multifamily Building
ABOUT 2892 W 7th St , Los Angeles, CA 90005
| Price | Not Individually For Sale | Lot Size | 0.21 AC |
| Property Type | Multifamily | Parking Ratio | 0.68/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Building Class | C |
| Price | Not Individually For Sale |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.21 AC |
| Parking Ratio | 0.68/1,000 SF |
| Opportunity Zone |
Yes |
Executive Summary
Classic 1920's built Koreatown brick-constructed property situated across the street from Southwestern Law School. This 59-unit building features an expansive, light-filled lobby and charming architectural detailing throughout. The 59 units are composed of 4 bachelors, 46 studios, 7 one-bedrooms and 2 two-bedrooms. A tremendous opportunity exists for a buyer to increase rents across the board and yield significant flow-through to the bottom line. The property has been well maintained but further improvements to interior units and common spaces could provide for value-add appreciation. Select interior unit improvements include refinished hardwood flooring, porcelain tile kitchen countertops and upgraded kitchen cabinetry. A majority of the bathrooms feature separate bathtubs and pedestal sinks. Many units also offer walk-in closets and built-in vanities. Other building improvements include upgraded electrical and elevator services. The property is master-metered for electricity and gas.
The property is located directly across the street from Southwestern Law School, just south of Wilshire Blvd, east of Vermont Ave and west of Hoover St. The property is walking distance from the Wilshire/Vermont metro station which provides access to the Purple and Red subway lines, which reach downtown Los Angeles is under 10 minutes.
The property is located directly across the street from Southwestern Law School, just south of Wilshire Blvd, east of Vermont Ave and west of Hoover St. The property is walking distance from the Wilshire/Vermont metro station which provides access to the Purple and Red subway lines, which reach downtown Los Angeles is under 10 minutes.
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