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$1,899,999
Est. payment /mo
9,352 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26214528
HOA Y/N No
Year Built 1964
Annual Tax Amount $7,193
Lot Size 9,352 Sqft
Property Sub-Type Multi Family
Property Description
Exceptional investment opportunity in the heart of Pico-Union, Los Angeles. This well-maintained 12-unit multifamily property at 1035 W 17th Street offers stable cash flow with significant upside potential. Built in 1964, the property sits on a 9,365 SF lot with 10,520 SF of rentable space, featuring a desirable unit mix of studios, one-bedroom, and two-bedroom apartments.
Currently operating at 100% occupancy with all tenants on a month-to-month basis, providing maximum flexibility for future rent adjustments. The property has been owned by the same family since 1982 and has undergone key capital improvements including seismic retrofitting and plumbing upgrades — both permits in place.
The current cap rate is 6.78% with a pro forma cap rate of 9.78%, reflecting substantial rental upside as current rents remain well below market rate. Self-managed with no management fee, keeping operating expenses lean. Conveniently located minutes from Downtown Los Angeles, the 110 Freeway, L.A. LIVE, and Crypto.com Arena.
$2,000,000 Now $1,900,000 | 12 Units | Cap Rate: 6.78% | Pro Forma Cap: 9.78% | Price/Unit: $158,333
Currently operating at 100% occupancy with all tenants on a month-to-month basis, providing maximum flexibility for future rent adjustments. The property has been owned by the same family since 1982 and has undergone key capital improvements including seismic retrofitting and plumbing upgrades — both permits in place.
The current cap rate is 6.78% with a pro forma cap rate of 9.78%, reflecting substantial rental upside as current rents remain well below market rate. Self-managed with no management fee, keeping operating expenses lean. Conveniently located minutes from Downtown Los Angeles, the 110 Freeway, L.A. LIVE, and Crypto.com Arena.
$2,000,000 Now $1,900,000 | 12 Units | Cap Rate: 6.78% | Pro Forma Cap: 9.78% | Price/Unit: $158,333
Location
State CA
County Los Angeles
Area Krea - Koreatown
Interior
Fireplace No
Laundry None
Building
Lot Description 11-15 Units/Acre
Story 2
Others
Tax ID 5135024006
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Standard
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Listed by Yuzu Takagi Capital Mortgage Service of America yuzutakagicre@gmail.com, DRE #02019202
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