Thank you
Matthew R. Kanner
Keller Williams Realty Los Feliz
323-300-1000
We are pleased to present 821 S Wilton Place, a Character French Normandy style 2-story, 20-unit value-add multi-family investment opportunity with 27%+ rental upside potential, located in the highly desirable Hancock Park adjacent submarket of Los Angeles, just west of Western Ave and south of Wilshire Blvd. Built in 1938, the building is comprised of 19 studios and 1 (1+1) units that average approximately 540+ gross square feet. Additionally, there are two non-conforming/bonus units in the basement, affording an investor the flexibility to capitalize on the potential addition of accessory dwelling units (ADU). The 10,786 square foot structure is situated on an 8,999 square foot LAR3 zoned lot. The property includes a rear backyard featuring mature pine trees, providing ample shade to this outdoor common area. There are 10 individual parking spots (with space to add bicycle and motorcycle parking) in the garage located below the building. The building's units feature large windows and include much of the original, colorful tile in the bathroom's stall showers and floor, and 11 of the units maintain hardwood flooring throughout. The property is separately metered for gas and electric, and there is a common area laundry room and master water heater in the basement. With a Walk Score of 84, the property's Hancock Park adjacent location, near the Wilshire Blvd and Western Ave intersection and 0.6 miles from the Wilshire/Western Metro Station, offers residents easy access to the countless shopping, dining, entertainment, and recreation options of Koreatown, Larchmont Village, Wilshire Center, Mid-Wilshire, and the revitalized Downtown Los Angeles less than 4 miles to the east. The building is 1.35 miles north of the 10 freeway, 2 miles south of the 2 and 101, and 3 miles northwest of the 110. 821 S Wilton Pl is well-positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.
Sell a home like this and save $238,601 Find Out How
Total Bedrooms : 1
Total Baths: 21
Full Baths: 0
Half Baths: 0
Property Appliances: Refrigerator
None
Air Conditioning
Year Built: 1938
Building Area Total: 10,786
Common Area,In Garage
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.2066
Lot Size Dimensions: 60x150
Lot Size Source: Assessor
Lot Size Square Feet: 8999
Original List Price: 3,985,000
Listing Contract Date: 2023-04-28
Listing Agreement: Seller Reserved
Parcel Number: 5092012004
Garage Description: Garage
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C18 - Hancock Park-Wilshire
Postal Code Plus 4: 3545
Directions: 821 S Wilton Place is ideally situated between Hancock Park and Koreatown 0.3 miles south of Wilshire Blvd and 0.3 miles west of Western Ave.
Zoning: LAR3
Source Property Type: Residential Income
Area: C18 - Hancock Park-Wilshire
Property Age: 86
Year Built Source: Assessor
Total Square Feet Living: 10786
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
822 S Windsor Boulevard.., Los Angeles, CA,90005 | $799,000 | 2 | 1 | 1,290 | 8980 Sqft |
854 S Normandie Avenue, Los Angeles, CA,90005 | $4,900,000 | -- | -- | -- | 13240 Sqft |
836 S Catalina Street, Los Angeles, CA,90005 | $2,250,000 | 8 | -- | 5,322 | 7249 Sqft |
837 S Berendo Street #1, Los Angeles, CA,90005 | $2,050,000 | 8 | -- | 5,732 | 7499 Sqft |
826 S Gramercy Place, Los Angeles, CA,90005 | $2,400,000 | -- | -- | 6,293 | 7499 Sqft |
2885 Francis Avenue, Los Angeles, CA,90005 | $1,995,000 | 12 | -- | 5,846 | 8057 Sqft |
702 Crenshaw Boulevard, Los Angeles, CA,90005 | $1,950,000 | 10 | 5 | 2,691 | 10491 Sqft |
4027 Leeward Avenue, Los Angeles, CA,90005 | $1,649,000 | 4 | 2 | 2,168 | 7236 Sqft |
670 Crenshaw Boulevard, Los Angeles, CA,90005 | $1,999,000 | 8 | 5 | 4,903 | 6196 Sqft |
893 S Norton Avenue, Los Angeles, CA,90005 | $1,490,000 | 2 | 2 | 1,975 | 7914 Sqft |
Copyright © 2024 by the Multiple Listing Service of the California Regional MLS®. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the California Regional MLS®. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited.
ByOwner last updated this listing 05/06/2024 @ 22:16
MLS: 23265294
LISTED BY: Matthew R. Kanner, Keller Williams Realty Los Feliz
SOURCE: CRMLS
Buyer Agency Compensation: 1.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.