2694 James Wood Los Angeles CA 90006 | Multifamily Real Estate for Sale | Multi Family Apartments for Sale | Multifamily Property for Sale | Multifamily for Sale

Huge 200k Price Reduction! 8-unit building cash flowing at a 6.75% Cap Rate from day 1 with upside to an 8.3% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 12.5% Current Cap Rate, 13.6% Proforma Cap, and only 154k/unit after taking into account all the construction costs (~680k assuming $250/SF). Large 6,770 SF R4 Lot with TOC Tier 3 designation for future development potential. 5 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, and more. Prime Koreatown location just minutes away from the Wilshire/Vermont Metro station as well as many hip neighborhood attractions, restaurants, bars, and shops such as The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-unit luxury high-rise development) and many more.
Strong Cash Flow: 8-unit building offers a solid 6.75% Cap Rate from day one, with potential to reach 8.3% on Proforma; opportunity to achieve up to 12.5% Current Cap Rate with additional developments.
Development Potential: Approved RTI plans to add 8 detached ADUs in the back parking lot, positioning the property for significant future returns.
Upgraded Units: 5 renovated units feature modern updates including new cabinets, flooring, kitchens, and bathrooms, along with exterior improvements and a newer roof.

Prime Koreatown location just minutes from the Wilshire/Vermont Metro station and surrounded by vibrant neighborhood hotspots, including The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, and the exciting $300 million KURVE Wilshire high-rise development with 644 luxury units. Don't miss this exceptional opportunity to enjoy the best of Koreatown’s dynamic lifestyle!