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1116 S Ardmore Ave

Los Angeles, CA 90006
  • $1,600,000
  • STATUS: Active Under Contract
  • ON SITE: 87 Days
  • ID#: 22-197718
Under Contract
UPDATED: 27 min ago
$1,600,000
  • 10
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,450
    SQFT
  • $360
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1965
County:
Area:

School Ratings & Info

Description

Court Confirmation & Overbid Hearing scheduled for December 6th - All interested overbidders wanting to participate must contact listing agents to register by December 3rd. Great investment opportunity to purchase a 6 unit multifamily property in Koreatown! The asset, built-in 1965, features Five (5) Two Bedrooms + One Bathroom unit, and One (1) One-Bedroom + One Bathroom Studio for a total of six units 1116 S Ardmore Ave consists of 4,450 Sq. Ft. and resides on a 5,903 Sq. Ft. lot. The property complies with the City of Los Angeles, and the Soft Story Retrofit has been completed (LADBS). 1116 S. Ardmore Ave is in desirable Koreatown between major thoroughfares, S Western Ave, Vermont Ave, W Pico Blvd, and W Olympic Blvd. 1116 S. Ardmore is poised to capitalize on the tremendous growth that Koreatown and adjacent areas continue to see. Furthermore, the subject property's transit-oriented and highly walkable (95 Walk score) location offers residents access to various entertainment venues, cultural destinations, dining options, and employers nearby. In addition, the lack of inventory in the immediate area and the value add component should entice even the most discerning investors. POTENTIAL INCREASED CASHFLOW: The structure behind the lot is approx. 850 Sq. Ft. and could potentially be used to build an ADU. (Buyer to verify with the city).

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-12-05T06:42:42.05. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.realestatetoolbox.com/homes/132926839
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1116 S Ardmore Ave Los Angeles, CA 90006

  • Price: $1,600,000
  • Status: Active Under Contract
  • On Site: 87 Days
  • Updated: 27 min ago
  • ID#: 22-197718
10
Beds
0
Baths
0
½ Baths
0.14
Acres
4,450
SQFT
$360
$/SQFT
1965
Built
Neighborhood:
Mid-Wilshire
County:
Los Angeles
Area:
Mid-Wilshire
Property Description
Court Confirmation & Overbid Hearing scheduled for December 6th - All interested overbidders wanting to participate must contact listing agents to register by December 3rd. Great investment opportunity to purchase a 6 unit multifamily property in Koreatown! The asset, built-in 1965, features Five (5) Two Bedrooms + One Bathroom unit, and One (1) One-Bedroom + One Bathroom Studio for a total of six units 1116 S Ardmore Ave consists of 4,450 Sq. Ft. and resides on a 5,903 Sq. Ft. lot. The property complies with the City of Los Angeles, and the Soft Story Retrofit has been completed (LADBS). 1116 S. Ardmore Ave is in desirable Koreatown between major thoroughfares, S Western Ave, Vermont Ave, W Pico Blvd, and W Olympic Blvd. 1116 S. Ardmore is poised to capitalize on the tremendous growth that Koreatown and adjacent areas continue to see. Furthermore, the subject property's transit-oriented and highly walkable (95 Walk score) location offers residents access to various entertainment venues, cultural destinations, dining options, and employers nearby. In addition, the lack of inventory in the immediate area and the value add component should entice even the most discerning investors. POTENTIAL INCREASED CASHFLOW: The structure behind the lot is approx. 850 Sq. Ft. and could potentially be used to build an ADU. (Buyer to verify with the city).
Exterior Features

Lot Size Area 5903 Other Structures Other Parking Garage Covered Parking Pool Description None Pool YN No Spa None Spa YN No Total Parking 6

Interior Features

Bathroom Features Tile Baths Total 6.00 Cooking Appliances Gas/Electric RangeOven Cooling Swamp Cooler(S) Equipment Range/Oven Fireplace Rooms None Flooring LaminateMixed Heating Forced Air Laundry Community

Property Features

Assessed Total Value 613854 Gross Income 103930 Gross Operating Income 101852 Like Units1 5 Like Units3 1 Net Operating Income 65814.00 Number Of Buildings 2 Number Of Units 6 Owner Pays Gardener Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 36037 Type Of Units 3 Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of David Weinberger DRE#01349349 of Keller Williams Studio City: 818-432-1500.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-12-05T06:42:42.05. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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