This is a Fantastic opportunity to own a stabilized gorgeous 8 unit building in Korea Town. The unit mix is 8 1-bedroom, 1-bath large units. They are individually metered and delightfully finished. The rents are solid, but there is some room for rent appreciation as well. Like most of Los Angeles, this unit is covered under rent control. There is great parking on the back, beautiful hardwood floors, large baseboards in each unit. Professionally managed and maintained. The location is the best. Two blocks away from the Red-Line Metro station and safely across the street from Frank Del Olmo Elementary School. The opportunity also offers potential for re-development, since it boasts a 7,499 Sq Ft R4 Lot that would allow you to build 18 units with "by right" or 25 units with density bonus. At 30% expense ratio it has an attractive ACTUAL 4.72 CAP rate and ACTUAL 14.84 GRM. Once rents are increased to market rents, the pro forma CAP Rate would be 5.86% and Pro Forma GRM 11.94.
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, Listed on
RONALD ESCOBAR, License# 01844635,
CENTURY 21 SELECT
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This 8 bedroom Multi-Family home
for sale in Los Angeles, CA
is currently listed for $1,898,000.
Featuring a lot size of 7,499 Sq. Ft.,
121 N New Hampshire Ave
was built in 1923 and
has been on ERA.com for 13 days.
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