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$ 5,450,000
Est. payment | /mo
18 Beds
18 Baths
8,678 SqFt
$ 5,450,000
Est. payment | /mo
18 Beds
18 Baths
8,678 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 8,678 sqft
Price per Sqft $628
MLS Listing ID 26723965
Bedrooms 18
HOA Y/N No
Year Built 1923
Lot Size 7,701 Sqft
Property Description
Fully renovated 18-unit apartment building delivering an attractive 7.5% cap rate from day one. This offering provides investors with the opportunity to acquire a turnkey, premium asset with strong in-place income. 16 fully renovated units from the studs in 2023 with permits, along with 2 brand-new detached ADUs (Not subject to RSO) constructed in 2024. The unit mix includes eighteen (18) spacious and well-designed one-bedroom, one-bathroom apartments totaling approximately 8,677 square feet of improvements on a 7,700 square foot LAR3-zoned lot. The property is separately metered for gas and electricity to further minimize the operating expenses. Ownership has completed a comprehensive, permitted renovation, including a new roof, upgraded plumbing and electrical systems, new panel and wiring, updated HVAC systems, and new windows throughout. Interiors feature new wood flooring, modern lighting, and fully upgraded kitchens and bathrooms with new cabinetry, countertops, vanities, and fixtures. The property offers strong curb appeal with fresh exterior paint and professional landscaping, creating an inviting tenant experience. Located in the highly desirable Koreatown and Wilshire Center submarkets, the asset benefits from close proximity to Larchmont Village, Hollywood, and Downtown Los Angeles, as well as excellent walkability to dining, entertainment, and cultural amenities. With its prime location and strong income profile, 4203 Council Street represents an ideal investment for buyers seeking immediate cash flow and long-term appreciation.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features On Street
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5518004008
Special Listing Condition Standard
Listed by Nick Astrupgaard KW Commercial Studio City #01893466
NEARBY SCHOOL & BUSINESS
22502 Avenida Empresa, Rancho Santa Margarita, California, 92688, USA
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