729 Yale Street
Los Angeles, CA 90012
0.21 acres | #24468811
Description
Prime investment opportunity in the heart of Chinatown! Lot is LAR4 with TOC Tier 3 for high density development! The existing 7-unit apartment building is situated in an unbeatable location, steps away from schools, bus stations, banks, restaurants, grocery stores, and much more. Just minutes from the bustling hub of Downtown Los Angeles, this property offers unparalleled convenience and accessibility. Property under the process of Ellis Act Evictions - completed by early 2025 so you have the option of redeveloping the lot and increase density or keeping the apartment with existing tenants. The apartment is fully occupied with long-term tenants, providing a stable income stream. Current rents are under market value with the opportunity for increased ROI with future adjustments. Property is under RSO currently. Whether you're looking to expand your portfolio or secure a solid income-producing asset, this property is a rare find in one of LA's most sought-after neighborhoods. Don't miss the chance to own a cornerstone of this vibrant and historic community. Please DO NOT DISTURB TENANTS! DRIVE BY ONLY!
Property Details
- Property SubtypeCommercialSale
- CountyLos Angeles
- Original List Price$2,288,000
- Property TypePurchase
- MLS #24468811
- MLS #24468811
- Cost2288000
- Acres0.2105
- Year Built1973
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Erwin Pineda (#CLW-C143109)
Listing Office: Coldwell Banker Exclusive (#CLW-X7335701)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
