1532 S Wilton Place

LARGE PRICE REDUCTION! BRING ALL OFFERS! 14 existing units in prime Mid City LA with RTI's and approved plans by the City of LA to begin building (2) ADU's in the back, which would turn the building into 16 units and add substantial income, all while still having plenty of on-site tenant parking spaces post-ADU completion. This 1960's construction building has all 2 Bed/1 Bath units and is offered at a low $219,643 per unit, with the opportunity to make it $192,188 per unit post-ADU completion. In-place 12.4 GRM on current rents with the upside to a 6.35 GRM. The roof was replaced in 2017, has copper plumbing throughout, EQ retrofitting has been completed, brand new master water heater, and brand-new on-site laundry room for tenants. There's 100% rental upside for the next owner to achieve, and approximately 65% rental upside after ADU's are completed and assuming all other rents stay the same. There's everything to love about this prime and central Mid City location as it borders West Adams, Koreatown and Downtown Los Angeles and Pico Union.