1053 S Oxford Avenue, Los Angeles, CA 90006 (MLS # SB25192062)

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PRICE $1,695,000 BEDS 0 BATHS 0 HOME SIZE 4,476 sqft LOT SIZE 6,504 sqft Request More Info Schedule a Showing

PLEASE DO NOT DISTURB OCCUPANTS .... Delivered 100% VACANT, this 5-unit property in Korea-town offers immediate income potential and future redevelopment upside. The mix includes three 1-bed/1-bath units with shared laundry ON SITE , one 3-bed/1-bath, and one 2-bed/1-bath with potential to reconfigure into a 4-bed/2-bath. An attached garage and ample surface parking add to tenant appeal. Separately metered and impeccably maintained this property is a trophy property looking for its next owner. Rough Proforma renovated rents"”1-bed units projected at ~$2,400, the 2-bed at ~$2,700, and the 3-bed at ~$3,900"”the property generates an estimated $165,600 annually (~$13,800/month). With a stabilized NOI of approximately $103,000, this equates to a 6.08% cap rate at the list price of $1,695,000, offering the possibility of increasing the rental return by reconfiguring the 2/1 into a 4/2 . For long-term investors or developers, the LAR4 zoning and proximity to major transit may qualify the property for Tier 3 TOC incentives (buyer to verify). Conservatively, this could allow 20-25 units, translating to potential monthly income in the $40,000-$50,000+ range at similar mid-market rents. LA's TOC program has been shown to improve feasibility by reducing approval risk, and the city's new Citywide Housing Incentive Program (CHIP) adds streamlined procedures and incentives when affordability is provided on future developments (buyer to verify specifics with Planning) For an owner-occupant, this property also offers the ability to live in one of the spacious units while collecting strong rental income from the others"”helping offset your mortgage while enjoying one of LA's most vibrant, commuter-friendly neighborhoods near the Wilshire Corridor, USC, and Koreatown's dining and nightlife. ( some of the photos have been AI enhanced , buyer to verify all matters pertaining to the property )