2025 W 3rd ST, Los Angeles, CA 90057
2025 W 3rd ST, Los Angeles, CA 90057
2025 W 3rd ST, Los Angeles, CA 90057
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$12,999,000
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0.92 Acres Lot
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2025 W 3rd ST Los Angeles, CA 90057

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Herb Rim

Herb Rim

+1(818) 699-9179

UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR26162855

HOA Y/N No

Year Built 1961

Lot Size 0.916 Acres

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.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning C2-1

Interior

Fireplace No

Laundry Common Area

Exterior

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Present Use Multi-Family

Building

Lot Description Corner Lot, Over 40 Units/Acre, Near Public Transit, Paved

Story 3

Water Public

Others

Tax ID 5154020038

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Logan Altman Altman Apartments LLC 310-903-0222, DRE #01965826

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Herb Rim

Herb Rim

Realtor License ID: 01870707

+1(818) 699-9179

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