1822 S New England Street, Los Angeles, CA 90006

About this property

We are pleased to offer the opportunity to acquire this four (4) unit value-add multifamily investment opportunity located at 1822 S. New England Street, well situated in the heart of Korea-town. The investment consists of one (1) structure, constructed of wood frame and stucco on a raised foundation built in 1913, with a square footage of 4,506 on a 9,112-square foot lot. The property consists of four (4) spacious 2-bedroom +1-bathroom units (Permitted 1-bedroom + 1-bathroom units on title), and the development opportunity to construct two (2) additional units, as well as two (2) ADU's to further increase cash flow. The site offers a zoning ordinance of LARD1.5, which allows for the construction of 6 total units by right. With a Tier 2 TOC (35% density bonus), this allows for the development of an additional 4 units, totaling a potential 10 buildable units. (Buyer to verify and do their own due diligence)

Listing description from the November 2023 sale, as reported to CRMLS.

Sale history

$1,300,000

Sold November 2023 · listed $1,345,000, on market August 2023 · MLS #23300481 · Source: CRMLS

Listing Agent: Davis Saadian · Listing Office: Carolwood Estates · Contact: 310-623-3600 · Bought with: Duk Hee Kang · Everyday Investment Group Inc

$1,050,000

Sold June 2018 · listed $1,049,000, orig. $999,500, on market July 2017 · MLS #17256216 · Source: CRMLS

Listing Agent: Christina Lee · Listing Office: Ivy Realty Co. · Contact: 213-386-8888 · Bought with: Christina Lee · Ivy Realty Co.

$810,000

Sold February 2017 · listed $890,000, on market December 2016 · MLS #16187138 · Source: CRMLS

Listing Agent: Tannaz Kamran-Rahbar · Listing Office: Keller Williams Rlty Brentwood · Contact: 310-826-8200 · Bought with: Christina Lee · Ivy Realty Co.

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