510 E 23rd St

Property Description

Spectacular offering of a 12-unit building in the Historic Central submarket of Los Angeles. Just south of downtown LA, this stylish building provides the perfect opportunity to add value as well as significant upside in rents. The unit mix is 12 Single Room Occupancies (SRO) with 6 two bedroom tandem units with separate exterior entrances to the 2nd bedrooms and 6 one bedroom units. There is a large gated parking area with room for 10+ cars. Coin Laundry brings in an additional $6,302/year. Located in the heart of the Historic Central neighborhood, just south of Downtown LA and Los Angeles, the property is near local employment, and entertainment centers such as South Park, LA Live and Crypto Arena. Also, rapidly developing areas like USC, the Arts District, Exposition Park and Koreatown. The neighborhood is considered highly walkable with easy access to freeways, shops and public transportation.