Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

4

Building size

4,228 sqft

Lot size

8,701 sqft

Year built

1923

Stories

2

Heating

Forced Air

Status

Active

Days on market

61

MLS #

244302645

About this property

Price greatly improved! Exceptional Koreatown fourplex offering large unit layouts, strong long-term investment potential, and approximately $150,000 in recent capital improvements. Built in 1923, the property features 4,228 SF of living space on an approximately 8,500 SF lot, comprised of four spacious 2-bedroom, 2-bathroom units averaging approximately 1,057 SF each. One unit will be delivered vacant, presenting an excellent opportunity for an owner-user or immediate rental upside.The oversized lot offers potential for future ADU or redevelopment opportunities (Buyer to verify). Parking includes two detached two-car garages, covered parking, and additional storage units, with recent improvements to the garage doors and lighting.Approximately $150,000 has been invested over the past four years, including new electrical systems in all four units, a new roof on both the main building and garage, full copper repipe from the meter to the units, new ABS plumbing beneath the building, foundation repairs, completed termite work, and new dishwashers and in-unit washer/dryers. These significant capital improvements help minimize future maintenance costs while providing added value and peace of mind for the next owner. A rare opportunity to acquire a well-maintained, character-rich multifamily asset with substantial recent upgrades, attractive unit sizes, parking, and long-term value-add potential in one of Los Angeles' most sought-after rental markets.

Location

244 S Alexandria Avenue

Los Angeles, Los Angeles, CA, 90004