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$2,190,000
Est. payment /mo
0.3 Acres Lot
UPDATED:
12/05/2024 01:53 AM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW24204871
HOA Y/N No
Year Built 1916
Annual Tax Amount $8,390
Tax Year 2024
Lot Size 0.304 Acres
Property Description
Cushman & Wakefield U.S., Inc., as exclusive advisor, is pleased to present an exceptional investment opportunity near the heart of Koreatown: 236
Vendome (the “Property”), a beautiful, 8-unit multifamily property nestled in the heart of Koreatown, one of Los Angeles’ most vibrant neighborhoods.
Situated on a 0.30-acre parcel, 236 Vendome offers an attractive mix of two (2) 1BR/1BA and six (6) 2BR/1BA units, exhibiting a blended average unit size of over 1,000 square feet per unit. Each unit features an efficient layout with highly attractive and unique interior design characteristics. Nine (11) gated parking spaces are located on the eastern side of the property, and are accessible via the alleyway abutting the that side of the Property.
Due to the existing layout/configuration and underlying zoning & land use guidelines, 236 Vendome offers an opportunity to realize additional, by-right residential density (via ADU development and/or density bonus incentives). 236 Vendome is zoned RD-1.5-1 by the City of Los Angeles, and can comfortably accommodate new development on the east side (rear) of the property, which is accessible via an interior alleyway. This portion of the site is well-suited for 2-3 ADU units with tuck-under parking. The additional density is permitted by-right via the city’s ADU Ordinance and/or Tier 3 TOC designation, a density bonus incentive increasing the unit yield by 40% and the maximum FAR by 45%.
236 Vendome has a strategic location proximate to Koreatown's commercial hub, featuring a high concentration of amenities and entertainment, which
will continue to generate steady tenant demand, and potential for future growth. The Property has high visibility and convenient access to a regional
transportation network serving Southern California, situated near the I-10, 110, and 101 Freeways, providing convenient access to every major freeway that passes through Greater Los Angeles. Moreover, the location is near the true center of the region, with only 9 miles to the Hollywood Burbank Airport, 10 miles to Los Angeles International Airport, and 20 miles to the Ports of Los Angeles and Long Beach.
236 Vendome presents a unique opportunity for investors seeking value-add opportunities in Koreatown's dynamic residential real estate market. Potential buyers can reimagine and enhance this historic gem to meet modern residential demands.
Vendome (the “Property”), a beautiful, 8-unit multifamily property nestled in the heart of Koreatown, one of Los Angeles’ most vibrant neighborhoods.
Situated on a 0.30-acre parcel, 236 Vendome offers an attractive mix of two (2) 1BR/1BA and six (6) 2BR/1BA units, exhibiting a blended average unit size of over 1,000 square feet per unit. Each unit features an efficient layout with highly attractive and unique interior design characteristics. Nine (11) gated parking spaces are located on the eastern side of the property, and are accessible via the alleyway abutting the that side of the Property.
Due to the existing layout/configuration and underlying zoning & land use guidelines, 236 Vendome offers an opportunity to realize additional, by-right residential density (via ADU development and/or density bonus incentives). 236 Vendome is zoned RD-1.5-1 by the City of Los Angeles, and can comfortably accommodate new development on the east side (rear) of the property, which is accessible via an interior alleyway. This portion of the site is well-suited for 2-3 ADU units with tuck-under parking. The additional density is permitted by-right via the city’s ADU Ordinance and/or Tier 3 TOC designation, a density bonus incentive increasing the unit yield by 40% and the maximum FAR by 45%.
236 Vendome has a strategic location proximate to Koreatown's commercial hub, featuring a high concentration of amenities and entertainment, which
will continue to generate steady tenant demand, and potential for future growth. The Property has high visibility and convenient access to a regional
transportation network serving Southern California, situated near the I-10, 110, and 101 Freeways, providing convenient access to every major freeway that passes through Greater Los Angeles. Moreover, the location is near the true center of the region, with only 9 miles to the Hollywood Burbank Airport, 10 miles to Los Angeles International Airport, and 20 miles to the Ports of Los Angeles and Long Beach.
236 Vendome presents a unique opportunity for investors seeking value-add opportunities in Koreatown's dynamic residential real estate market. Potential buyers can reimagine and enhance this historic gem to meet modern residential demands.
Location
State CA
County Los Angeles
Area Krea - Koreatown
Zoning RD1.5-1
Interior
Fireplace No
Laundry Electric Dryer Hookup, Gas Dryer Hookup
Exterior
Total Parking Spaces 11
Building
Lot Description Gentle Sloping, Near Public Transit
Story 2
Water Public
Others
Tax ID 5155006016
Special Listing Condition Standard
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Listed by Michael Tidwell • Cushman & Wakefield • michael.tidwell@cushwake.com
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Scott Woodburn
Real Estate Professional Knowledge Broker | License ID: 01185194
Real Estate Professional Knowledge Broker License ID: 01185194