About 2025 W 3rd Street
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.
Features of 2025 W 3rd Street
| MLS® # | SR26162855 |
|---|---|
| Price | $12,999,000 |
| Bathrooms | 0.00 |
| Acres | 0.92 |
| Year Built | 1961 |
| Type | Commercial Sale |
| Sub-Type | Mixed Use |
| Status | Active |
Community Information
| Address | 2025 W 3rd Street |
|---|---|
| Area | C42 - Downtown L.A. |
| City | Los Angeles |
| County | Los Angeles |
| Zip Code | 90057 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Has Basement | No |
|---|---|
| Fireplace | No |
| # of Stories | 3 |
Exterior
| Lot Description | Corner Lot, Over 40 Units/Acre, Near Public Transit, Paved |
|---|
Additional Information
| Date Listed | July 26th, 2026 |
|---|---|
| Days on Market | 46 |
| Zoning | C2-1 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Logan Altman |
|---|---|
| Office | Altman Apartments LLC |