Condominium buy in Van Ness California

80% Vacant 15-Unit Fixer with 12 vacancies priced at only 243k/door with a 5.4% Cap Rate after renovations. Fully Approved RTI Plans to convert current 5 vacant units into 10 vacant units plus 2 ADUs in the back. Incredible Current Cap Rate of 5.4% and 13.4 GRM after renovations with 35% upside to 8% Cap Rate & 10 GRM on the proforma. Excellent up-and-coming location minutes from Banc of California Stadium, USC, & Inglewood. Individually metered for Gas & Electricity. Large 10,268 SF C2 Lot for future redevelopment. Price/Unit, Price/SF, Cap Rate & GRM are based on Total Price for sake of conservatism, which includes the remodeling cost of 10 vacant units 3,600 SF at 125/SF (450k) plus construction cost of 2 ADUs 850 SF at 250/SF (210k). MLS® ID: DW22200650 Listed: 9/12/22 Updated: 9/29/22 Interior Features Total Bedrooms: 0 Total Bathrooms: 0 Laundry Description: None Exterior/Building Features Lot Size: 10,554 ft2 lot Lot Details: 0-1 Unit/Acre Sewer: Public Sewer Other Property Details Area Name: C23 - Metropolitan HOA Amenities: Sidewalks, Urban Garage: No Parking: On Street View: N County: Los Angeles Water Source: Public Pool: No Pool Description: None Total Stories: 1 Listed by Jorge Lopez, Corcoran Global Living, Based on information from California Regional Multiple Listing Service, Inc. as of 9/29/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.