1822-1828 S New England St

05-10-2022
05-10-2022

1822 S New England St, Los Angeles, CA 90006

  • LARD 1.5 Zoning
  • Currently Four (4) Value-add Multifamily Units
  • TOC Tier 2
  • 9,121 SQFT LOT
  • Current Income: $5,208/Month

Property Description

The Saadian Real Estate Group is pleased to offer the opportunity to acquire this
four (4) unit value-add multifamily investment opportunity located at 1822 S. New England Street, well situated in the heart of Koreatown. The investment consists of one (1) structure, constructed of wood frame and stucco on a raised foundation built in 1913, with a square footage of 4,506 on a 9,112-square foot lot. The property consists of four (4) spacious 2-bedroom +1-bathroom units (1-bedroom + 1-bathroom units legally on title), and the development opportunity to construct two (2) additional units, as well as two (2) ADU’s to further increase cash flow. The site offers a zoning ordinance of LARD1.5, which allows for the construction of 6 units by right. With a Tier 2 TOC (35% density bonus), this allows for the development of an additional 4 units, totaling a potential 10 buildable units. (Buyer to verify and do their own due diligence)
PLEASE NOTE THE FOLLOWING:
1) DO NOT DISTURB THE TENANTS.
2) Submit Offer on a CAR Residential-Income Purchase Agreement.
3) Interior Inspection/Books & Records Granted with an Accepted Offer.
4) Submit Proof of Funds & Pre-Qualification Letter with Offer.
5) Seller Selects all Services
Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information above and bears all risk for any inaccuracies.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
2-4 Units
Price
$ 1,575,000
No. of Units
4
Year Built
1913
Building Size
4,506 Sq ft
Lot Size
9112 sq ft
No. of Stories
2
Zoning Code
LARD 1.5
Opportunity Zone
No
Price per unit
$ 393,750
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34.040698, -118.287602

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