1053 S Oxford AVE Los Angeles, CA 90006
6,503 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25192062
Construction Status Turnkey
HOA Y/N No
Year Built 1922
Lot Size 6,503 Sqft
Property Sub-Type Apartment
Property Description
Rough Proforma renovated rents—1-bed units projected at $2,400, the 2-bed at $2,700, and the 3-bed at $3,900—the property generates an estimated $165,600 annually ($13,800/month) Offering the possibility of increasing the rental return by reconfiguring the 2/1 into a 4/2 .
For long-term investors or developers, the LAR4 zoning and proximity to major transit may qualify the property for Tier 3 TOC incentives (buyer to verify). LA's TOC program has been shown to improve feasibility by reducing approval risk, and the city's new Citywide Housing Incentive Program (CHIP) adds streamlined procedures and incentives when affordability is provided on future developments (buyer to verify specifics with Planning)
Preliminary review suggests potential for approx. 20- 27 units with up to 19,500 buildable SF (buyer to verify). 6,500 SF LAR4 lot typically supports after TOC rounding rules, with parking as low as 0.5/unit and potential open-space/yard concessions. Conceptual proforma rents for a unit mix of 1-, 2-, and 3-bedroom apartments could reach $800,000+ gross annual income, depending on design and market conditions. Once this 27-unit building is built, leased, and running normally, it could be worth $10–11M in today's market conditions assuming a cap rate of 4.5-5.0% .... or an owner-occupant, this property also offers the ability to live in one of the spacious units while collecting strong rental income from the others—helping offset your mortgage while enjoying one of LA's most vibrant, commuter-friendly neighborhoods near the Wilshire Corridor, USC, and Koreatown's dining and nightlife. ( some of the photos have been AI enhanced)
Offered at $1,695,000, this site presents strong potential for developers or long-term investors. Buyer to conduct and rely solely on their own due diligence; seller and broker make no guarantees or representations
Location
State CA
County Los Angeles
Area Krea - Koreatown
Zoning LAR4
Interior
Interior Features Ceiling Fan(s), Crown Molding, High Ceilings, Open Floorplan, Tile Counters, Bedroom on Main Level, Main Level Primary
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate, Tile, Wood
Fireplace No
Laundry Electric Dryer Hookup, Gas Dryer Hookup, Inside, Laundry Room, See Remarks
Exterior
Exterior Feature Awning(s)
Parking Features Assigned, Asphalt, Covered, Door-Multi, Driveway Down Slope From Street, Driveway, Garage, Paved, Garage Faces Side
Garage Spaces 2.0
Garage Description 2.0
Fence New Condition, Wrought Iron
Pool None
Community Features Suburban
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
View None
Total Parking Spaces 2
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Turnkey
Others
Senior Community No
Tax ID 5080009025
Security Features Carbon Monoxide Detector(s),Fire Detection System,Security Gate,Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan, FHA, VA Loan
Listing Terms Cash, Cash to New Loan, FHA, VA Loan
Special Listing Condition Standard
