17
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$2,475,000
Est. payment /mo
8 Beds
6 Baths
7,023 Sqft Lot
Open Sat 11AM-2PM
110 S Kings Rd Los Angeles, CA 90048
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In-PersonVirtual Tour
Open House
Sat Aug 29, 11:00am - 2:00pm
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26184097
Bedrooms 8
Lot Size 7,023 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
110 S. Kings Road Rare Owner-User Townhome Investment with 6.34% Cap Rate, 12.59 GRM & Development Upside Offered at $2,475,000, the property is currently operating at an attractive 6.34% CAP Rate and 12.59 GRMunusually strong metrics for a prime 90048 location. The property consists entirely of townhome-style units, with a unit mix of two 3-bedroom/2-bath residences and one 2-bedroom/2-bath residence. Most importantly for an owner-user, one of the 3-bedroom, 2-bath townhomes is currently vacant and available for immediate occupancy. A buyer can move directly into a substantial residence while collecting income from the other two townhome units. Strong Income Today Significant Upside Tomorrow The property generates approximately $196,572 in annual scheduled gross income, producing approximately $156,849 of current NOI and the aforementioned 6.34% current CAP Rate. The Offering Memorandum projects approximately 49.56% rental upside, with pro forma income of approximately $294,000 annually. The property sits on an approximately 7,026-square-foot lot and is zoned LA R3, creating an additional layer of value beyond the existing income stream. The site also offers the potential to add three ADUs, creating an opportunity to significantly increase unit count, income and overall property value while retaining the existing townhome residences. Any ADU or redevelopment potential should be independently verified by the buyer with the City of Los Angeles and appropriate land-use professionals. A True Owner-User + Investment Opportunity 6.34% Current CAP Rate 12.59 Current GRM Three T
Location
State CA
County Los Angeles
Zoning Assessor
Direction From Wilshire Blvd, head south on S Kings Rd. Property will be on the right
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5511016003
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://my.matterport.com/show/?m=nn3KZfWSv6q
Listed by Cameron Samimi, DRE#02035763 Lyon Stahl Investment Real Estate, Inc.
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