311 S New Hampshire Avenue, Los Angeles, CA 90020
Local realty services provided by:Nelson Shelton Real Estate ERA Powered
311 S New Hampshire Avenue,Los Angeles, CA 90020
$3,795,000
- 24 Beds
- 24 Baths
- 11,792 sq. ft.
- Multi-family
- Active
Listed by: josh kaplan, troy lucero jr.
Office: equity union818-989-2000
MLS#:26106043
Source:CRMLS
Price summary
- Price:$3,795,000
- Price per sq. ft.:$321.83
About this home
SEE OM in DOCS section of the listing. We as the exclusive listing agent, are pleased to present the opportunity to acquire 311 S New Hampshire Ave., a sixteen-unit multifamily investment property located in the Koreatown neighborhood of Los Angeles. Investors have the opportunity to buy a stabilized investment with only two vacant units that are rent-ready for lease up. Because the building was constructed in 1989, the property is exempt from the Los Angeles Rent Stabilization Ordinance and is governed instead by the statewide cap under AB 1482. Property Description: 311 S New Hampshire Ave. is a sixteen-unit multifamily property located in the Koreatown neighborhood of Los Angeles, near 3rd Street and Vermont Avenue. Built in 1989, the property is arranged as a single 11,792 square-foot building on a 9,015 square-foot LAC2-zoned lot. UNIT DETAILS Unit features include large bedrooms, large full bathrooms, large kitchens, separate spacious living room areas and ample closet and storage space. Many of the units feature vaulted ceilings and have updated kitchens, bathrooms and flooring. Due to ample available space, investors can explore the possibility of adding washer/dryers in each unit. COMMON AREA DETAILS The property has secured gated access with an intercom system. There is a laundry room on site for tenant use. All units are separately metered for electricity and gas and have their own individual water heaters and the landlord pays for water and trash. Gated access parking at street level is provided on site and is more than adequate for the number of units. Chargie EV chargers are also available in the parking area as an attractive amenity for tenants. Investment Highlights: EXEMPT FROM THE LA RSO 1989 construction places the property under CA State AB 1482 currently allowing more favorable 8.7% annual increases HIGH IN-PLACE CAP RATE 7.14% cap rate upon lease up of vacant rent-ready units 103 and 202 at market rents BALANCED UNIT MIX Eight 1Bed+1Bath and eight 2Bed+2Bath units averaging 737square feet across 11,792 square feet of building area. ADDITIONAL INCOME STREAMS Parking, laundry and RUBS income add an estimated $45,880 per year to rental income. SUPERIOR IN-PLACE RETURN TO COMPARABLES The offering prices to a 7.14%in-place cap and 8.75 GRM against a comparable average of 5.66% and 11.12, and to$237,188 per unit against a $255,516 average. RENTAL UPSIDE In-place rents sit $4,087 per month, or 12.6%, below market, supporting an 8.04% pro forma cap rate. PRIME KOREATOWN LOCATION Near 3rd Street and Vermont Avenue, minutes from the Wilshire Boulevard corridor, the Metro B and D Lines at Wilshire/Vermont and Downtown Los Angeles....
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Home facts
- Year built:1989
- Listing ID #:26106043
- Added:9 day(s) ago
- Updated:November 12, 2026 at 01:08 PM
Rooms and interior
- Bedrooms:24
- Total bathrooms:24
- Living area:11,792 sq. ft.
Structure and exterior
- Year built:1989
- Building area:11,792 sq. ft.
- Lot area:0.21 Acres
Finances and disclosures
- Price:$3,795,000
- Price per sq. ft.:$321.83
Parking
- Total parking spaces:24
- Parking description:Controlled Entrance, Covered, Gated
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