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245 S Reno Street Los Angeles, CA $ 12,870,000
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$ 12,870,000 Get more info
245 S Reno Street
$ 12,870,000
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245 S Reno Street

Los Angeles, CA, 90057
$ 12,870,000
Bedrooms1 Baths2.0 Sq 21,368

Monthly Estimate*

$ 85,538

Listed by Keller Williams Beach Cities
245 S Reno Street, Los Angeles, CA 90057 - Image 1
245 S Reno Street, Los Angeles, CA 90057 - Image 2
245 S Reno Street, Los Angeles, CA 90057 - Image 3
245 S Reno Street, Los Angeles, CA 90057 - Image 4
245 S Reno Street, Los Angeles, CA 90057 - Image 5
245 S Reno Street, Los Angeles, CA 90057 - Image 6
245 S Reno Street, Los Angeles, CA 90057 - Image 7
245 S Reno Street, Los Angeles, CA 90057 - Image 8
245 S Reno Street, Los Angeles, CA 90057 - Image 9
245 S Reno Street, Los Angeles, CA 90057 - Image 10
245 S Reno Street, Los Angeles, CA 90057 - Image 11
245 S Reno Street, Los Angeles, CA 90057 - Image 12
245 S Reno Street, Los Angeles, CA 90057 - Image 13
245 S Reno Street, Los Angeles, CA 90057 - Image 14
245 S Reno Street, Los Angeles, CA 90057 - Image 15

Multi-Family Home for sale in Los Angeles, CA

for $12,870,000 with 1 bedroom and 2 full baths. This 21,368 square foot home was built in 1964 on a lot size of 0.4385.

The Reno Terrace Apartments are a 66-unit property positioned between Koreatown, Silver Lake, and MacArthur Park, with terrific access to Downtown and the rest of Los Angeles! It is rare to find an asset of this size and vintage for the area. This investment is priced at a current 5.61% Cap Rate and 11.03 GRM, with projected rental upside of about 20% for a new owner! The 66 units are comprised of nearly all Studio units and (1) 1 Bed / 1 Bath (with den) unit. The building has a pool in the central courtyard as well as parking for 33 cars. Units include gas stoves and heaters (master metered for all utilities) and all units have patios for tenants to enjoy. Soft-story seismic retrofit work has also been finished. With a walk score of 89, the property is surrounded by terrific amenities, allowing tenants to accomplish most errands and daily tasks on foot, cutting down on the need for parking. Transit options are also exceptional, with terrific access to bus stops and metro rail lines.

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Multi-Family Active

Price

$ 12,870,000

Bedrooms

1

Full Bath

2

Property Type

Multi-Family

Taxes

$ 0

Style

Apartment

Lot Size

0.4385

Year Built

1964

Town/City

Los Angeles

County/Region

Los Angeles

MLS | Web ID

SB24098260

Days on Market

35
Features
General
Sewer PublicSewer
Zoning LARD1.5
Garage Spaces 33.0
Pool Features Community InGround
Year Built 1964
Stories 2
Levels Two
Property SubType Apartment
Gross Income 1166962.0
Community Features Curbs Pool
County Los Angeles
Net Operating Income 721645.0
Operating Expense 423477.0
Insurance Expense 0.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N Y
Special Listing Conditions Standard
Status Active
Directions Near Reno and 3rd
City Los Angeles
Entry Location Front
View Y/N N
Senior Community Y/N N
NumberOfUnitsTotal 66
MLS Area 699 - Not Defined
Lot Size Units SquareFeet
Lot Size Square Feet 19103.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Listing Terms Cash CashtoNewLoan Item1031Exchange
Property Attached Y/N Y
Land Lease Y/N N
Electric Expense 0.0
Home Warranty Y/N N
Fuel Expense 0.0
Trash Expense 0.0
Water Sewer Expense 0.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Days on Market 10
Building Area Units SquareFeet
Standard Status Active
Year Built Source PublicRecords
Tax Lot 13
Property Sub Type Additional Apartment
Cap Rate 5.61
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Exterior
Lot Features RectangularLot
Water Source Public
Total Parking 33.0
Lot Size Area 19103.0
Number of Buildings 1
Spa N
Building Area Total 21368.0
Lot Size Acres 0.4385
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 1
Number of Separate Electric Meters 1
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Total Stories 2
Common Walls Item2CommonWalls
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Laundry Features CommonArea
Entry Level 1
Electric On Property Y/N N
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Internal Only
Street Number 1 245
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* Excluded Features
List By
Keller Williams Beach Cities

Broker

(310) 480-2130

Phone

Affordability Calculator

$85,538
Per Month
100%
0%
0%
Monthly Principal & Interest
$85,538
Monthly Property Taxes
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Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
273443 Elementary School
272636 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
5/15/2024$12,870,000 Listed Price

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245 S Reno Street, Los Angeles, CA, 90057 is a Multi-Family Home for sale at $12,870,000 with 21,368 sqft and a lot size of 0.4385. 245 S Reno Street has 1 bedrooms, 2.0 baths, and was built in 1964. The property's zip code is 90057 which is in Los Angeles, CA

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