2325 S Ridgeley DR, Los Angeles, CA 90016
2325 S Ridgeley DR, Los Angeles, CA 90016
2325 S Ridgeley DR, Los Angeles, CA 90016
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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Jeffrey Walker

Jeffrey Walker

+1(949) 903-3731
$ 1,825,000
Est. payment | /mo

16 Beds

8 Baths

7,152 SqFt

Save
$ 1,825,000
Est. payment | /mo
Save

16 Beds

8 Baths

7,152 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 7,152 sqft

Price per Sqft $255

MLS Listing ID 26102592

Bedrooms 16

HOA Y/N No

Year Built 1965

Lot Size 9,500 Sqft

Property Description

2nd Price Reduction! Large 7,152 SF 8-Unit value-add building cash flowing at a Current 4.5% Cap Rate with a whopping 97% upside to a 11% Cap on Proforma! Attractively priced at only $228k/unit for entirely 2-bedroom units and only $255/SF. Large 9,500 SF lot with plans to add 8 detached ADUs to achieve an incredible 9.7% Current Cap Rate, 14.2% Proforma Cap, $158k/unit, and only $258/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 C16 - Mid Los Angeles

Zoning LARD1.5

Interior

Heating Wall Furnace

Fireplace No

Exterior

Parking Features Gated

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5063023008

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Armin Soleimani Global Platinum Properties, Inc. #01846872

Nearby Locations

Jeffrey Walker

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 903-3731

jeffrey@walkerpropertygroupca.com

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2325 S Ridgeley DR

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