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Jessica Panzica

jessica@jessicapanzica.com +1(714) 313-8193

$5,195,000

Est. payment - /mo

18 Beds

18 Baths

8,678 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 8,678 sqft

Price per Sqft $598

MLS Listing ID 26856817

Bedrooms 18

HOA Y/N No

Year Built 1923

Lot Size 7,701 Sqft

Property Description

2nd Price Reduction! Fully renovated 18-unit apartment building delivering an attractive 8% Cap Rate from day one. This offering provides investors with the opportunity to acquire a turnkey, premium asset with strong in-place income. 16 fully renovated units from the studs in 2023 with permits, along with 2 brand-new detached ADUs (Not subject to RSO) constructed in 2024. The unit mix includes eighteen (18) spacious and well-designed one-bedroom, one-bathroom apartments totaling approximately 8,677 square feet of improvements on a 7,700 square foot LAR3-zoned lot. The property is separately metered for gas and electricity to further minimize the operating expenses. Ownership has completed a comprehensive, permitted renovation, including a new roof, upgraded plumbing and electrical systems, new panel and wiring, updated HVAC systems, and new windows throughout. Interiors feature new wood flooring, modern lighting, and fully upgraded kitchens and bathrooms with new cabinetry, countertops, vanities, and fixtures. The property offers strong curb appeal with fresh exterior paint and professional landscaping, creating an inviting tenant experience. Located in the highly desirable Koreatown and Wilshire Center submarkets, the asset benefits from close proximity to Larchmont Village, Hollywood, and Downtown Los Angeles, as well as excellent walkability to dining, entertainment, and cultural amenities. With its prime location and strong income profile, 4203 Council Street represents an ideal investment for buyers seeking immediate cash flow and long-term appreciation.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR3

Interior

Fireplace No

Exterior

Parking Features On Street

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5518004008

Special Listing Condition Standard

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Listed by Nick Astrupgaard KW Commercial Studio City #01893466

Nearby School & Business

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Jessica Panzica

+1(714) 313-8193

Agent License ID: 01854556

4203 Council ST Los Angeles, CA 90004

Jessica Panzica

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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