916 Georgia Street
Los Angeles, CA 90015
MLS #17213692

Income
  • 32units
  • 18,132sq ft
Pending Sale $8,350,000
Est. P&I payment: $31891.34/mo
916 Georgia Street, Los Angeles, CA 90015
  • 916 Georgia Street, Los Angeles, CA 90015 Photo 1
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  • 916 Georgia Street, Los Angeles, CA 90015 Photo 9
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Description for 916 Georgia Street, Los Angeles, CA 90015
916 Georgia St, located in the South Park District of Downtown Los Angeles, directly across from LA Live and surrounded by several development projects including the Wilshire Grand Central, which will be the tallest building West of the Mississippi. The property was built in 1912 with a unit mix consisting of (21) singles, (3) bachelors, and (8) two bedroom units. Additionally, the property sits on a 7,525 Sq. Ft. lot with an existing C2 zoning, allowing for a Floor Area Ratio of 6:1 which can be increased up to 13:1 with the transfer of Floor Area.The investment is ideal for redevelopment because of its exceptional location and favorable zoning allowance, or as a value-add opportunity by capitalizing on the property's tremendous upside.
MLS #17213692
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My Notes for MLS #17213692

General Features

  • Number Of Buildings: 1
  • Number Of Units Total: 32
  • Year Built: 1912
  • Zoning: LAC2
  • Improvements Amount: 1,217,074
  • Land Value: 1,955,642

Exterior Features

  • Stories Total: 3
  • Lot Size Acres: 0.17
  • Lot Size Area: 7,525
  • Lot Size SqFt: 7,525
  • Lot Size Units: Square Feet

Utility Features

  • Cooling YN: 1
  • Cooling: See Remarks
  • Laundry YN: 1
  • Laundry Features: See Remarks

Financial Features

  • CapRate: 2.16
  • Net Operating Income: 180,569
  • Price Per SqFt: 460.51
  • Total Expenses: 201,545
  • Gross Multiplier: 21.2
  • Gross Operating Income: 382,113

Miscellaneous Features

  • Building Area Total: 18,132
  • Days On Market: 120
  • Lot Size Source: See Remarks
  • Special Listing Conditions: Standard
  • Cumulative Days On Market: 120

Location

 
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Directions to 916 Georgia Street, Los Angeles, CA 90015
In between James M Wood Blvd and Olympic Blvd. Across from L.A. Live.
Listing information for 916 Georgia Street, Los Angeles, CA 90015 was graciously provided by our friends at the listing brokerage, Concord Real Estate Service and by listing agent Ma Guillermo DRE# 01350503

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P&I Payment $31891.34
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Alliance Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Alliance Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 04/19/2018 at 5:59am
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