Triplex with Defaulted 2 ADU Addition Project in Olympic Park/Oxford Square Area
Cross Streets Olympic and Rimpau
10 Minutes to Ktown, 25 to DTLA and Beverly Hills
Good 85 Walk Score

Property consists of a
(A) 2256 SF triplex in the front each unit with 1 bedroom and 1 bathroom that was built in 1923 along with
(B) 2 nearly completed ADU units each with 3 bedrooms and 1 bathroom totaling 1531 SF with storage space for all 5 units below all on a 7011 SF Lot.
ADU electrical and plumbing has been done but project has been stalled and lender is looking to sell the note.

Original Loan Amount $1,790,000
Original Interest Rate 10.50%
Current Default Rate 20.50%
Loan Matured November 2023
NOD Filed October 2024
Appraised ARV Value at $3,000,000
Current Monthly Triplex Income $8500
Monthly Proforma Income $15,000
CURRENT UNPAID BALANCE $2,479,076