2325 S Ridgeley Dr, Los Angeles, CA 90016
2325 S Ridgeley Dr, Los Angeles, CA 90016
2325 S Ridgeley Dr, Los Angeles, CA 90016
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Ron Taibi

Ron Taibi

+1(661) 212-1135
$1,950,000
Est. payment /mo
8 Beds
16 Baths
7,152 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,152 sqft

Price per Sqft $272

MLS Listing ID 26854775

Bedrooms 8

Year Built 1965

Lot Size 9,500 Sqft

Acres 0.2181

Property Sub-Type Multi-Family

Property Description

Large 7,152 SF 8-Unit value-add building cash flowing at a current 4% Cap Rate with a whopping 100% upside to a 10.2% Cap on Proforma! Attractively priced at only 243k/unit for entirely 2-bedroom 1-bath units and only $272/SF. Large 9,500 SF lot with plans to add 8 detached ADUs to achieve an incredible 12.2% Current Cap Rate, 18.3% Proforma Cap, 166k/unit, and only $266/SF after taking into account all the construction costs (~715k assuming $250/SF). The exterior of the property has undergone detailed renovations and features on-site parking as well as an updated laundry room. Electricity and gas are individually metered which minimizes operating expenses. Prime Mid-City location just minutes away from Beverly Hills, Culver City, West Adams, as well as many hip neighborhood attractions, restaurants, bars, shops, such as Cento Pasta Bar, The Blending Lab Winery, Tartine Bakery, Farmhouse Kitchen Thai Cuisine, Mu.S Coffee, Cumulus luxury 31-story 1,210 unit mixed-use project, 260 units Habitat Residences campus with retail and creative office, and much more.

Location

State CA

County Los Angeles

Area Mid Los Angeles

Zoning LARD1.5

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Ceiling Fan

Equipment None

Exterior

Parking Features Gated

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Global Platinum Properties, Inc.

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Ron Taibi

Ron Taibi

+1(661) 212-1135

Agent | License ID: 01240158

Agent License ID: 01240158

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