8-unit building cash flowing at a 5.35% Cap Rate from day 1 with upside to almost a 7% Cap on Proforma! Preliminary plans to add 8 detached ADUs in the back parking lot to achieve an incredible 10.4% Current Cap Rate, 11.6% Proforma Cap, and only 167k/unit after taking into account all the construction costs (~680k assuming $250/SF). Large 6,770 SF R4 Lot with TOC Tier 3 designation for future development potential. 5 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, and more. Prime Koreatown location just minutes away from the Wilshire/Vermont Metro station as well as many hip neighborhood attractions, restaurants, bars, and shops such as The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-unit luxury high-rise development) and many more.
Property Details
Price:
$1,995,000
MLS #:
25556971
Status:
Active
Baths:
0
Address:
2694 James M Wood Boulevard
Type:
Residential Income
Neighborhood:
c17midwilshire
City:
Los Angeles
Listed Date:
Jun 25, 2025
State:
CA
ZIP:
90006
Lot Size:
6,771 sqft / 0.16 acres (approx)
Year Built:
1906
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Schools
Interior
Exterior
Parking Features
Uncovered
Parking Spots
9.00
Stories Total
2
Financial
Map
Community
- Address2694 James M Wood Boulevard Los Angeles CA
- AreaC17 – Mid-Wilshire
- CityLos Angeles
- CountyLos Angeles
- Zip Code90006
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Courtesy of Marcus & Millichap. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. California Regional Multiple Listing Service. All rights reserved.2694 James M Wood Boulevard
Los Angeles, CA
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