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2025 W 3rd ST Los Angeles, CA 90057
0.92 Acres Lot
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
Listed by Logan Altman Altman Apartments LLC 310-903-0222, DRE #01965826