Opportunity to acquire 2755 James M Wood Blvd, an 8-unit apartment building located in the heart of prime Koreatown, one of the most desirable and rapidly developing submarkets of Los Angeles. Originally constructed in 1952, 2755 James M Wood Blvd, is a well-maintained two-story structure with strong cash flow and… Read More upside potential. Spanning 3,777 square feet on a 6,753 square foot lot, the property features eight thoughtfully designed one-bedroom, one-bath units. Four of these units have been tastefully upgraded with modern kitchens and bathrooms, vinyl plank flooring, and premium stainless-steel appliances, while all units boast open floor plans that create a bright and inviting atmosphere. Additional highlights include eight parking spaces (one designated for trash bins) and an on-site laundry facility for tenant convenience. The electrical panel has been recently upgraded, and the property is separately metered for gas and electricity. Moreover, there is Accessory Dwelling Unit (ADU) potential at the rear of the building, offering a further opportunity to increase income (Buyer to verify). With a complete interior renovation program, an investor can fully capitalize on the remaining rental upside, making this an exceptional investment opportunity. The Property is ideally positioned in prime Koreatown, one of the most sought-after and vibrant communities in Los Angeles. The Property is a Walker's Paradise, conveniently located amongst nearby amenities including enter tainment venues, restaurants, shopping, hotels, and nightlife. Tenants are less than half a mile away from Southwestern Law School, only 0.6 miles away from the Wilshire/Vermont Metro Red and Purple Line Station and 0.9 miles away from the Westlake/Macarthur Park Station, offering tenants excellent accessibility across Los Angeles. The Purple Line is currently undergoing construction to extend the line by 2026 with new stations servicing Miracle Mile, Beverly Hills, Westwood and Brentwood. Further, the Property is centrally located near major employment centers including Downtown LA, Beverly Hills, Century City, Hollywood, West Hollywood, and Mid-Wilshire. Located in an area with immense economic growth, 2755 James M Wood provides investors with the opportunity to acquire a well-maintained asset with significant upside potential. Read Less
Property listed by Kidder Mathews of California, Inc., Janet Neman 858-369-3010
Listing Snapshot
Days Online
38
Last Updated
Property Type
Other
Beds
8
Square Ft.
3,777
Lot Size
0.16 Acres
Year Built
1952
MLS Number
24450019
30 Days Snapshot Of 90006
$650k
+23%
(avg) sold price
3
+200%
homes sold
64
-23%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Microwave, Refrigerator
Building
Built in 1952, Building area total: 3,777, Levels: Two, Living area: 3777, 2 stories, 1 building
Cooling
None
Heating
WallFurnace
Income
Gross income: $11,140, Net operating income: $77,621
Interior Features
CeilingFans
Lot
0.1551 acres, 6,755 square feet, Size: 6,755
Parking
8 totals parking, Assigned
Property
Zoning: LAR4
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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