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

4,408 sqft

Lot size

6,271 sqft

Year built

1914

Stories

0

Heating

None

Cooling

None

Status

Active

Days on market

14

MLS #

248454833

About this property

2765 W 8th St | 4-Unit Multifamily, Koreatown. Originally built in 1914 and taken down to the studs and rebuilt in 2015, the property totals 4,408 SF on a 7,052 SF lot in the residential core of Koreatown. It is about a ten-minute walk from the Wilshire/Vermont Metro station and has a Walk Score of 96. All four units are 3BR/1BA averaging 1,102 SF, a family-sized configuration in a submarket dominated by singles and one-bedrooms, and they come with eight on-site parking spaces. The building is 100% occupied, with rents averaging $2,661 per month against a $2,750 market rent. Offered at $1,375,000 ($343,750/unit | $311.93/SF) with a 6.15% in-place cap rate, the real story is simplicity: rebuilt systems, near-market rents, and a 6.45% pro forma cap with ADU upside on top.

Location

2765 W 8th Street

Los Angeles, Los Angeles, CA, 90005