Los Angeles, Residential Income – 350 S Reno St, Los Angeles, CA 90057, USA -001-11-30T00:00:00-08:00
350 S. Reno Street is an excellent opportunity to acquire a true pride of ownership property in one of the best rental locations in prime Koreatown. The property was built in 1990 and is NOT subject to rent control, allowing for significant and immediate ren
350 S Reno St, Los Angeles, CA 90057, USA
$17,495,000 USD
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Address350 South Reno Street, Los Angeles
Price$17,495,000
Year Built1990
Bedrooms Total0
Living Area38,612
Lot Size (Sq.Ft.)14,254
Listing ID17272294
StatusActive
Parcel Number5155009045
ZoningLAR4
Special ConditionsStandard
Days on Market32

Detailed Description: 350 S. Reno Street is an excellent opportunity to acquire a true pride of ownership property in one of the best rental locations in prime Koreatown. The property was built in 1990 and is NOT subject to rent control, allowing for significant and immediate rental upside. This extremely well maintained property boasts a great unit mix consisting of all 2 bedroom 2 bath units, with 6 of the penthouse units featuring dramatic loft style units. All of the units are spacious, have a terrific floor plan, and offer an abundance of natural light. Most units feature upgraded and luxurious amenities including stainless steel appliances, quartz or granite countertops, hardwood floors (pergo), spacious kitchens / bedrooms / bathrooms, large balconies, and central heat and air conditioning. Other property features include copper plumbing, tenant storage areas, a laundry room on each floor, security cameras, and gated parking consisting of side by side and tandem spots.

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Address Information
Address350 South Reno Street, Los Angeles
Street PrefixSouth
Street SuffixStreet
CityLos Angeles
Location (MLS Area)C17 – Mid-Wilshire
County Or ParishLos Angeles
State or ProvinceCA
Postal Code90057
Financial Information
Price per Square Foot$453.10
Price per Lot Square Foot$1,227.37
Special ConditionsStandard
Total Expenses$373,940
Gross Operating Income$939,077
Net Operating Income$565,136
Gross Multiplier18.07%
Improvements Amount$2,020,000
Land Value$5,000,000
Tax Year2000
Full Descriptions
Parcel Number5155009045
Detailed Description350 S. Reno Street is an excellent opportunity to acquire a true pride of ownership property in one of the best rental locations in prime Koreatown. The property was built in 1990 and is NOT subject to rent control, allowing for significant and immediate rental upside. This extremely well maintained property boasts a great unit mix consisting of all 2 bedroom 2 bath units, with 6 of the penthouse units featuring dramatic loft style units. All of the units are spacious, have a terrific floor plan, and offer an abundance of natural light. Most units feature upgraded and luxurious amenities including stainless steel appliances, quartz or granite countertops, hardwood floors (pergo), spacious kitchens / bedrooms / bathrooms, large balconies, and central heat and air conditioning. Other property features include copper plumbing, tenant storage areas, a laundry room on each floor, security cameras, and gated parking consisting of side by side and tandem spots.
Cooling DescriptionCentral
Appliances DescriptionRefrigerator, Dishwasher
Property parameters
Year Built1990
Living Area (Sq.Ft.)38,612
Lot Size (Sq.Ft.)14,254
Lot Size SourceAssessor
Number of Buildings1
Number of Units Total36
ZoningLAR4
Stories Total5
Units Total36
Cap Rate (For Cash Payment Only)3.23
Listed withJonathan Taksa (Remax Commercial And Investmen)