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821 S Wilton Pl

Los Angeles, CA 90005
  • $4,200,000
  • STATUS: Active
  • ON SITE: 79 Days
  • MLS #: 22-133633
UPDATED: 45 min ago
$4,200,000
  • 0
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 10,786
    SQFT
  • $389
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1938
County:

School Ratings & Info

Description

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 44%+ 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 86, 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.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-23T18:43:30.103. 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.markwiseproperties.com/homes/126412240
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821 S Wilton Pl Los Angeles, CA 90005

  • Price: $4,200,000
  • Status: Active
  • On Site: 79 Days
  • Updated: 45 min ago
  • MLS #: 22-133633
0
Beds
0
Baths
0
½ Baths
0.21
Acres
10,786
SQFT
$389
$/SQFT
1938
Built
Neighborhood:
Hancock Park-Wilshire
County:
Los Angeles
Area:
Hancock Park-Wilshire
Property Description
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 44%+ 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 86, 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.
Exterior Features

Lot Size Area 8999 Other Structures None Parking Garage Gated Underground Style French Normandy Total Parking 10

Interior Features

Baths Total 21.00 Cooling None Equipment RefrigeratorFreezerRange/Oven Heating Wall Gas Laundry CommunityGarage Laundry Equipment Own

Property Features

Assessed Total Value 1104765 Gross Income 298824 Gross Operating Income 290012 Like Units1 19 Like Units2 1 Net Operating Income 181249.00 Number Of Buildings 1 Number Of Units 20 Rent Control YN Yes Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 108763 Type Of Units 0+11+1 Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Matthew R. Kanner DRE#01349203 of Keller Williams Realty Los Feliz.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-23T18:43:30.103. 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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Mark Wise | Bennion Deville Homes
71691 Highway 111
Rancho Mirage CA, 92270