927 South Ardmore Avenue

Los Angeles, CA 90006

$4,980,000
Price
9
Beds
58
Baths
40,000 Sq. Ft.
$125 / Sq. Ft.
40,000
Sq. Ft.
$125
per Sq. Ft.

Description

Take a part of the ever growing Koreatown rental market! We are pleased to showcase this exceptional opportunity to become either an Investor or a Developer. Encompass of 2 lots totaling 13,534 square feet of prime Koreatown land. OPTION # 1 : For THE INVESTORS in search of an opportunity to expand their real estate portfolio, we offer the buyers the ability to immediately renovate, design, and lease the existing 8 units (1 studio, 5 of 1 bed & 1 bath units and 2 of 2 bed & 1 bath units) and Single...Take a part of the ever growing Koreatown rental market! We are pleased to showcase this exceptional opportunity to become either an Investor or a Developer. Encompass of 2 lots totaling 13,534 square feet of prime Koreatown land. OPTION # 1 : For THE INVESTORS in search of an opportunity to expand their real estate portfolio, we offer the buyers the ability to immediately renovate, design, and lease the existing 8 units (1 studio, 5 of 1 bed & 1 bath units and 2 of 2 bed & 1 bath units) and Single Family Home with a detached garage that can be converted to an ADU for extra income. PROFORMA MONTHLY RENTAL INCOME: Studio $1,700 1bed + 1 bath $2,200 2 bed + 1bath $2,800 SFR $7,500 + $2,500 for Possible ADU. In exchange, the property is forecasted to attain a 5.11% cap rate, $339,600 GRI and 14.66% GRM post-renovation. Delivered 100% Vacant. OPNTION # 2 : For THE DEVELOPERS, the Property will be delivered with RTI Permits to acquire a 54-unit, seven-story development project with RTI(Ready to Issue) plans. The proposed development spans an impressive 40,000 square feet and comprises 54 units, R4-1 Zoning, TOC Tier 3. Delivered 100 % Vacant.
  1. Listed by Jina Hee Chon • DRE #02062088 • Brokerage DRE #01408513 • NEOZIPS, Inc.
  2. Listed by Yun Kim • DRE #01408513 • Brokerage DRE #01408513 • NEOZIPS, Inc.

Property Details for 927 South Ardmore Avenue

Zoning
LAR4
Parcel Number
5093023057
Total Units
54.0
Living Area
40000
Source Living Area
Developer
Area
Mid-Wilshire (C17)
Vacancy Rate
0
Lot Size Area
13524

Location

Listing Courtesy of NEOZIPS, Inc., Jina Hee Chon, DRE #02062088; NEOZIPS, Inc., Yun Kim, DRE #01408513
Add your commute
LISTING UPDATED: 04/12/2024 09:42 PM

Property Details for 927 South Ardmore Avenue

StatusActive
MLS #24-367837
Days on Market48
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.31 AC / 13,524 SF
CountyLos Angeles County

Location

Listing Courtesy of NEOZIPS, Inc., Jina Hee Chon, DRE #02062088; NEOZIPS, Inc., Yun Kim, DRE #01408513
Add your commute

Building Information for 927 South Ardmore Avenue

Stories7Residences-Year Built1922Building Size-Lot Size0.31 AC / 13,524 SF

Payment Calculator

$30,927 per month

30 year fixed, 7.25% Interest

Principal and Interest

$27,178

Property Taxes

$3,749

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 927 South Ardmore Avenue

Community / Development
Community / Development
  • Number Of Units: 54
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 7
  • Number Of Buildings: 1
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $339,600
  • Net Operating Income: $254,700.00
  • Gross Income: $339,600
  • Cap Rate: 5.11%
  • Gross Rent Multiplier: $14.66
  • Total Annual Expense: 84900
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3105
  • Lot Size Square Feet: 13524
  • Lot Size Dimensions: 50x135
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 50
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Air Conditioning
  • Heating: Central
  • Heating Type: Central
  • Equipment: None
  • Laundry: In Unit
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-13-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $1,700.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 5
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,800.00
  • Like Units: 2
Unit 4 Information
  • Unit Beds: 5
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $7,500.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,412,516.00
  • Assessed Improvement Percent: 36.59
  • Assessed Land Value: $2,447,406.00
  • Assessed Land Percent: 63.41
  • Assessed Total Value: $3,859,922.00

Property History for 927 South Ardmore Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 927 South Ardmore Avenue

Taxable ValueLand$2,399,418Additions$1,384,820Total$3,784,238
Tax Record2022$44,990 ($3,749 / month)
Home Facts
Total Finished SqFt8,292 SqFtAbove Grade Finished SqFt8,292 SqFtStories2Lot Size6,760 SqFtStyleMulti-Family Res (5+ Units)Year Built1922ZoningLAR4CountyLOS ANGELESAPN5093-023-057

Schools near 927 South Ardmore Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Hobart Boulevard Elementary School
PublicK to 5

Young Oak Kim Academy
Public6 to 8

Berendo Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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927 South Ardmore Avenue is a multi-family home for sale in Los Angeles, CA 90006. This property was listed for sale on March 13, 2024 by NEOZIPS, Inc., it's currently listed at $4,980,000. It has been on the market for a total of 48 days and was last sold on April 24, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include Hobart Boulevard Elementary School, Young Oak Kim Academy and Berendo Middle School. 927 South Ardmore Avenue is a 9-bed, 58-bath, 40,000 sqft multi-family home built in 1922.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of NEOZIPS, Inc., Jina Hee Chon, DRE #02062088; NEOZIPS, Inc., Yun Kim, DRE #01408513

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.