Property listed by Marcus & Millichap, Roderick 'Rick' Raymundo 818-212-2700
$1,995,000
Listed at a 7.09% CAP Rate and 7.61 GRM based on in-place income, the property offers investors strong immediate cash flow with the added opportunity to recapture approximately 36% in rent upside. The property's electrical system has been upgraded, with a new main panel and new subpanels, saving a new… Read More owner from maintenance, insurance, and inefficient utility costs. Attractively priced when compared to similar recent sales, the building is being offered for $124,688 per unit while similar assets have been selling for an average of $151,782 per unit in 2025. Because the building is not on the Los Angeles Department of Building and Safety's seismic retrofit list, a new owner can save significant funds from otherwise costly seismic repairs (Buyer to verify). Situated just south of 8th Street, the property offers tenants proximity to the abundant dining and shopping options throughout Koreatown, in addition to job centers in Downtown Los Angeles and the nearby University of Southern California. Residents also enjoy convenient access to the 110, 10, and 101 Freeways, while the Metro B Line and D Line subways, along with several Metro bus stops, are all within blocks of the property. With LA Live and the neighboring Crypto.com Arena, Los Angeles Convention Center, and nearby Los Angeles Coliseum scheduled to host events in the 2028 Summer Olympics, the entire local area stands to benefit from upcoming infrastructure improvements and an influx of capital to the area. Read Less
Listing Snapshot
Days Online
8
Last Updated
Beds
5
Square Ft.
8,272
Lot Size
0.15 Acres
Year Built
1925
MLS Number
25606069
Additional Details
Building
Built in 1925, Living area: 8272.0, 1 building, 2 stories, Levels: Two
Income
Gross Income: $261,540, Net Operating Income: $141,386
Lot
0.1472 acres, Dimensions: 50x128
Parking
Assigned
Taxes
Parcel Number: 5094022025, Zoning: LAR4
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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