OFFERED FOR THE FIRST TIME IN 17 YEARS! Edgemont Court is comprised of Two 6-unit multifamily structures (side by-side) located in the trendy and high growth area of Koreatown. Each building sits on its own parcel (5518-012-015 & 5518-012-016) and is comprised of a rare mix of 6 extra large Studio + Den apartment homes (12 units total); (Ample parking 14 spaces). Easy to own and operate, simple management. These two-story walk-up style complexes were built in 1940. Each unit is +- 600 square feet on average. These twin sister buildings command a corner location and are located less than half a mile to the metro station. The area boasts a healthy score of 88 on walkability providing the ideal location & crossroads for where millennials want to live, work and play. OPPORTUNITIES Currently Edgemont Court rents are positioned well below market rate. There is approximately +-26% in upside for the new investor to capture. Furthermore, due to the layout of the property (separate garage + storage structure) the new buyer can add value by creating ADU unit(s), & or laundry care facility. Incredible Development Opportunity: PRICED AT LAND VALUE FOR 2 CONTIGUOUS MASSIVE CORNER LOTS OF NEARLY 11,000 SQ, FT. TOTAL WITH EXTRA WIDE FRONTAGE ON BOTH STREETS. ZONED LAR3 LOCATED IN OPPORTUNITY ZONE + BENEFIT OF A TOC TIER 3 OVERLAY + DENSITY BONUS FOR FUTURE DEVELOPMENT POTENTIAL. (Buyer to conduct their own due diligence with the City of Los Angeles).
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Multi-Family Space
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