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    1506 S Wilton Place

    Los Angeles, CA 90019
    • $3,600,000
    • STATUS: ACTIVE
    • ON SITE: 128 days
    • ID#: 302665291
    UPDATED: 63 min ago
    $3,600,000
    • 3
      BEDS
    • 0.3
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1921
    County:

    School Ratings & Info

    Description

    1506 South Wilton Place is a partially renovated 12-unit apartment building in Los Angeles Arlington Heights neighborhood with 33 percent potential upside in rents. The building is a 1921 construction with a desirable mix of nine two-bed/one-bath and three one-bed/one-bath units that are separately metered for gas and electricity. Half of the units have been recently remodeled. The property also offers on-site laundry and eight surface parking spaces. 1506 South Wilton Place is located less than a mile no 1506 South Wilton Place is a partially renovated 12-unit apartment building in Los Angeles Arlington Heights neighborhood with 33 percent potential upside in rents. The building is a 1921 construction with a desirable mix of nine two-bed/one-bath and three one-bed/one-bath units that are separately metered for gas and electricity. Half of the units have been recently remodeled. The property also offers on-site laundry and eight surface parking spaces. 1506 South Wilton Place is located less than a mile north of the 10 Freeway, offering easy access to Downtown LAs major employers and entertainment. The property is four blocks west of Western Avenue and Western Plaza Shopping Center (home to Food4Less, CVS, Panda Express, Wingstop, and more), and two blocks east of Pio Pico Middle School.This is a very dense rental area where over 84 percent of housing units within one mile are renter-occupied. Arlington Heights has begun to see an increase in development recently as the Koreatown boom spreads southwest. Two notable major developments projects in this neighborhood include the five-story, 28-unit building with streetfront commercial space and parking currently under construction at 3617 Venice Boulevard, less than a mile from the subject property, and The Arlington, a recently approved project that will see the rise of a four-story building with 84 apartments and 2,400 square feet of commercial space at 3300 Washington Boulevard, also less than a mile from the property.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.carriefilla.com/homes/109922842
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    1506 S Wilton Place Los Angeles, CA 90019

    • Price: $3,600,000
    • Status: ACTIVE
    • Updated: 63 min ago
    • ID#: 302665291
    3
    Beds
    0
    Baths
    0
    ½ Baths
    0.3
    Acres
    1921
    Built
    Neighborhood:
    Los Angeles (90019)
    County:
    Los Angeles
    Area:
    Los Angeles (90019)
    Property Description
    1506 South Wilton Place is a partially renovated 12-unit apartment building in Los Angeles Arlington Heights neighborhood with 33 percent potential upside in rents. The building is a 1921 construction with a desirable mix of nine two-bed/one-bath and three one-bed/one-bath units that are separately metered for gas and electricity. Half of the units have been recently remodeled. The property also offers on-site laundry and eight surface parking spaces. 1506 South Wilton Place is located less than a mile no 1506 South Wilton Place is a partially renovated 12-unit apartment building in Los Angeles Arlington Heights neighborhood with 33 percent potential upside in rents. The building is a 1921 construction with a desirable mix of nine two-bed/one-bath and three one-bed/one-bath units that are separately metered for gas and electricity. Half of the units have been recently remodeled. The property also offers on-site laundry and eight surface parking spaces. 1506 South Wilton Place is located less than a mile north of the 10 Freeway, offering easy access to Downtown LAs major employers and entertainment. The property is four blocks west of Western Avenue and Western Plaza Shopping Center (home to Food4Less, CVS, Panda Express, Wingstop, and more), and two blocks east of Pio Pico Middle School.This is a very dense rental area where over 84 percent of housing units within one mile are renter-occupied. Arlington Heights has begun to see an increase in development recently as the Koreatown boom spreads southwest. Two notable major developments projects in this neighborhood include the five-story, 28-unit building with streetfront commercial space and parking currently under construction at 3617 Venice Boulevard, less than a mile from the subject property, and The Arlington, a recently approved project that will see the rise of a four-story building with 84 apartments and 2,400 square feet of commercial space at 3300 Washington Boulevard, also less than a mile from the property.
    Exterior Features

    Pool N/K

    Interior Features

    Stories 2 Story Total Baths Unit1 1 Total Baths Unit2 1

    Property Features

    Actual Cap Rate 3.72 Annual Expense Actual 79971 Buildings 1 Gross Rent Multiplier Actual 16.42 Gross Scheduled Income Actual 219291 Terms Cash Unit Number For Unit1 1 Unit Number For Unit2 2 Unit1 Rent Actual 1592.0 Unit2 Rent Actual 1316.0 Water Meter On Property Zoning Lar3

    Listing provided courtesy of Steven M. Bogoyevac, Broker. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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    Carlsbad CA, 92008