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$ 5,325,000
Est. payment /mo
Active
4203 W Council Street Los Angeles, CA 90004
8,678 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,678 sqft
Price per Sqft $613
MLS Listing ID CL26723965
HOA Y/N No
Year Built 1923
Lot Size 7,702 Sqft
Acres 0.1768
Property Sub-Type Other
Property Description
Price Reduction! Fully renovated 18-unit apartment building delivering an attractive 7.75% Cap Rate from day one. This offering provides investors with the opportunity to acquire a turnkey, premium asset with strong in-place income. 16 fully renovated units from the studs in 2023 with permits, along with 2 brand-new detached ADUs (Not subject to RSO) constructed in 2024. The unit mix includes eighteen (18) spacious and well-designed one-bedroom, one-bathroom apartments totaling approximately 8,677 square feet of improvements on a 7,700 square foot LAR3-zoned lot. The property is separately metered for gas and electricity to further minimize the operating expenses. Ownership has completed a comprehensive, permitted renovation, including a new roof, upgraded plumbing and electrical systems, new panel and wiring, updated HVAC systems, and new windows throughout. Interiors feature new wood flooring, modern lighting, and fully upgraded kitchens and bathrooms with new cabinetry, countertops, vanities, and fixtures. The property offers strong curb appeal with fresh exterior paint and professional landscaping, creating an inviting tenant experience. Located in the highly desirable Koreatown and Wilshire Center submarkets, the asset benefits from close proximity to Larchmont Village, Hollywood, and Downtown Los Angeles, as well as excellent walkability to dining, entertainment, and cultural amenities. With its prime location and strong income profile, 4203 Council Street represents an ideal investment for buyers seeking immediate cash flow and long-term appreciation.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 5518004008
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Listed by Nick Astrupgaard • KW Commercial Studio City