2025 W 3rd Street, Los Angeles, CA 90057 (MLS # SR26162855)
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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.
| DAYS ON MARKET | 4 | LAST UPDATED | 7/26/2026 |
|---|---|---|---|
| YEAR BUILT | 1961 | COMMUNITY | C42 - Downtown L.A. |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AREA | C42 - Downtown L.A. |
|---|---|
| LOT | 0.9161 acre(s) |
| LOT DESCRIPTION | Corner Lot, Near Public Transit, Paved |
| LOT DIMENSIONS | 39907 |
| STORIES | 3 |
| UTILITIES | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| WATER | Public |
TOTAL MONTHLY PAYMENT
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