2025 W 3rd Street, Los Angeles, CA 90057
- $12,999,000
- List Price
- $12,999,000
- Status
- ACTIVE
- MLS#
- SR26162855
- Year Built
- 1961
- Lot Size
- 39,907
- Acres
- 0.92
- Lot Location
- Corner Lot, Over 40 Units/Acre, Near Public Transit, Paved
- Days on Market
- 1
- Property Type
- Commercial
- Property Sub Type
- Mixed Use
Property Description
The iconic Royal Viking — a 62-unit Westlake mixed-use value-add: 59 efficiency studios plus 3 ground-floor commercial spaces, fully gut-renovated in 2024 with 21 newly built units and all residential units registered and legal with LAHD. Offered at a 6.68% in-place cap rising to a 7.27% pro forma on all-charges income (rents, parking, laundry and utility reimbursement). Rare rent flexibility: 7 non-rent-controlled units plus an active legacy hotel license for short-term / hospitality optionality. Amenities include 47 on-site parking spaces, a pool and a resort-style roof deck. Sited on a large +/-39,907 SF (0.92-acre) R4-1/C2-1 transit-adjacent parcel — significant long-term density, ADU and redevelopment upside beyond the 19,995 SF of improvements. Additional upside through commercial lease-up, studio mark-to-market and full parking utilization. Steps to the Metro B/D lines. A rare combination of in-place cash flow, operational flexibility and development optionality in supply-constrained Westlake.
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Additional Information
- Water
- Public
- Attached Structure
- Detached
- Gross Scheduled Income
- $1,448,328
- Operating Expense
- 536301
Listing courtesy of Listing Agent: Logan Altman (logan@altmanapartments.com) from Listing Office: Altman Apartments LLC.
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