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Los Angeles, CA 90008
LISTING CRE
1411
S. ORCHARD AVE
KOREATOWN/PICO UNION
5-Units with Ready To Issue (RTI) Plans for 3 Additional Units
Property
The Asset
Units
Additional Units
Building SF
Lot SF
Parking
Summary
5
3 (RTI)
4,337 SF
6,551 SF
5 Spaces
SNAPSHOT
Koreatown
Pico Union
5 Units
+ 3 Units (RTI)
THREE (ADU) that are RTI
Overview
KW Commercial, as exclusive listing agents are pleased to present 1411 Orchard Avenue, a 5-unit property with stamped Ready to Issue (RTI) plans for three more units located in the Koreatown adjacent Pico-Union submarket.
Built in 1924, the main structure features (2) 3 Bedroom / 1 Bathroom units, (1) 1 Bedroom / 1 Bathroom unit and (1) Studio unit. Behind the main structure sits a detached house with 2 Bedrooms / 1 Bathroom. One of the 3 Bedroom units, and the 2 Bedroom House were fully renovated in 2021, and come equipped with beautiful laminate wood floors, stainless steel appliances, new windows, new wall A/C and heating units, and new bathroom vanities.
The property is highlighted by the upside opportunity immediately available as there are THREE Accessory Dwelling Units (ADU) that are RTI providing an amazing and immediate value-add opportunity. Two of the ADUs are garage conversions and one unit in the main structure is a non-conforming 1 Bedroom/ 1 Bathroom with RTI plans to be permitted, this unit will be delivered vacant at the close of escrow.
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