The LAAA Team of Marcus & Millichap is pleased to offer this 12,780 sq. ft. mixed-use property in the highly desired MacArthur Park area of Koreatown, LA. With a walk score of 96, the neighborhood is experiencing rapid development, with over 300 new apartment units underway in surrounding properties.

The 1914-built property, located at the junction of Vermont Ave and James M Wood Blvd, includes 14 apartments and a popular Korean BBQ restaurant on the ground floor. The apartments offer around 40% upside potential in gross rental income as current rents are lower. A utility bill back system could also greatly boost the property's NOI by slashing utility costs by an estimated $45,000 per year. In total, we estimate 62% upside potential in net operating income (NOI) with the higher rents and lower utility bills combined.

The successful restaurant, "J BBQ," occupies about 4,200 sq. ft. and recently signed a 5-year lease extension following their own unit remodel, providing strong evidence that the business is thriving and set to stay long-term. They pay $14,000 monthly rent for the next five years and are responsible for all utility costs and maintenance within their premises, keeping landlord expenses low.

Additional income is generated from two billboards and a wall sign visible to over 45,000 daily passers-by, providing an extra $820 monthly.

With LAC2 zoning and a TOC Tier 3 bonus, potential for redevelopment into 34 units exists, offering a long-term strategic advantage. In the short term, an investor might add units to the current parking lot, increasing value further.

Additionally, the seller offers advantageous seller-carry financing to the buyer, making this investment even more attractive. The terms include a 50% down payment, a 5.50% interest rate with interest-only payments, and a 2-year (24-month) term, at the end of which the full loan balance is due to the seller. This flexible financing option provides a further incentive for potential investors, allowing them to leverage their investment and enhance their returns.