19,995 sqft

$12,500,000

2025 W 3rd Street, Los Angeles CA, 90057

Price per sqft$625.16

Built in1961

Property size19,995 sqft

Property typeCommercial

Overview

Active

Listed Jul 26, 2026

Updated 2 weeks ago

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 $12,500,000, a 7.41% in-place cap rate on the buyer's reassessed tax basis, 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.

Additional information

MLS^® ID: SR26162855

Interior Features

Basement: No

Exterior Features

Lot Size: 0.92 Acres

Other Property Details

Taxes: $156,250
Tax Frequency: Annually
Maintenance Expense: $52,923

Listed by Logan Altman, Altman Apartments LLC, CA DRE 01965826

Listing Contact: 310-903-0222

Based on information from the CRISNet MLS as of 9/20/2026, 8:35 PM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.