$2,875,000
1240 S Norton Avenue
Los Angeles, CA 90019
18
Beds
16
Baths
9,822
Sq. Ft.
1963
Year Built
Los Angeles
County
ResidentialIncome
Property Type
About this home
Rare opportunity to acquire a 16-unit garden walk-up apartment building in the heart of Mid-City Los Angeles. Built in 1963, the property offers approximately 9,822 square feet of building area on a 12,963-square-foot lot. The unit mix consists primarily of one-bedroom apartments, along with a three-bedroom manager's unit.Six apartments will be delivered vacant, creating an immediate opportunity to renovate, reposition and increase rental income. Recent improvements include a new roof and an updated electrical system. Additional features include 16 secured parking spaces, on-site laundry, separately metered gas and electricity, and a completed earthquake retrofit.Conveniently located near the Pico and Washington Boulevard corridors with easy access to Koreatown, Mid-Wilshire, Downtown Los Angeles, Culver City, public transportation, shopping and dining. Zoned LAR3 and situated on a substantial 0.30-acre parcel, the property presents strong value-add potential in a centrally located Los Angeles rental market.
Property Details
Architecture
Features & Amenities
Property Features
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Mortgage Estimate
$15,302/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
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