Los Angeles, Residential Income – 916 Georgia St, Los Angeles, CA 90015, USA -001-11-30T00:00:00-08:00
916 Georgia St, located in the South Park District of Downtown Los Angeles, directly across from LA Live and surrounded by several development projects including the Wilshire Grand Central, which will be the tallest building West of the Mississippi. The prop
916 Georgia St, Los Angeles, CA 90015, USA
$8,350,000 USD
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Address916 Georgia Street, Los Angeles
Price$8,350,000
Price Changed4.57% (-$400,000, 30 days ago)
Year Built1912
Bedrooms Total0
Living Area18,132
Lot Size (Sq.Ft.)7,525
Listing ID17213692
StatusPending
Parcel Number5138005026
ZoningLAC2
Special ConditionsStandard
Days on Market149

Detailed Description: 916 Georgia St, located in the South Park District of Downtown Los Angeles, directly across from LA Live and surrounded by several development projects including the Wilshire Grand Central, which will be the tallest building West of the Mississippi. The property was built in 1912 with a unit mix consisting of (21) singles, (3) bachelors, and (8) two bedroom units. Additionally, the property sits on a 7,525 Sq. Ft. Lot with an existing C2 zoning, allowing for a Floor Area Ratio of 6: 1 which can be increased up to 13: 1 with the transfer of Floor Area. The investment is ideal for redevelopment because of its exceptional location and favorable zoning allowance, or as a value-add opportunity by capitalizing on the property’s tremendous upside.

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Address Information
Address916 Georgia Street, Los Angeles
Street SuffixStreet
CityLos Angeles
Location (MLS Area)C42 – Downtown L.A.
County Or ParishLos Angeles
State or ProvinceCA
Postal Code90015
Financial Information
Purchase Contract DateJuly 20, 2017
Price Changed-4.5714%
Previous Price$8,750,000
Price per Square Foot$460.51
Price per Lot Square Foot$1,109.63
Special ConditionsStandard
Total Expenses$201,545
Gross Operating Income$382,113
Net Operating Income$180,569
Gross Multiplier21.2%
Improvements Amount$1,217,074
Land Value$1,955,642
Tax Year2000
Full Descriptions
Parcel Number5138005026
Detailed Description916 Georgia St, located in the South Park District of Downtown Los Angeles, directly across from LA Live and surrounded by several development projects including the Wilshire Grand Central, which will be the tallest building West of the Mississippi. The property was built in 1912 with a unit mix consisting of (21) singles, (3) bachelors, and (8) two bedroom units. Additionally, the property sits on a 7,525 Sq. Ft. Lot with an existing C2 zoning, allowing for a Floor Area Ratio of 6: 1 which can be increased up to 13: 1 with the transfer of Floor Area. The investment is ideal for redevelopment because of its exceptional location and favorable zoning allowance, or as a value-add opportunity by capitalizing on the property’s tremendous upside.
Laundry FeaturesSee Remarks
Cooling DescriptionSee Remarks
Property parameters
Year Built1912
Living Area (Sq.Ft.)18,132
Lot Size (Sq.Ft.)7,525
Lot Size (Acres)0.17
Lot Size SourceSee Remarks
Number of Buildings1
Number of Units Total32
ZoningLAC2
Stories Total3
Units Total32
Cap Rate (For Cash Payment Only)2.16
Listed withGuillermo Ma (Concord Real Estate Service)