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

8

Building size

6,848 sqft

Lot size

7,164 sqft

Year built

1955

Stories

2

Style

Traditional

Heating

Wall Furnace

Cooling

None

Status

Active

Days on market

0

MLS #

249009034

About this property

Roque & Mark Co. is please to present this metrics-driven value-add opportunity in a highly central, supply-constrained 90004 location! Perfectly positioned right where the historic charm of Larchmont Village meets the booming economic and rental density of Koreatown, this stable 8-unit building is an investor's dream, boasting an incredible 5.4% CAP rate and a conservative 9.9 GRM on current rents. The soft-story seismic retrofit has already been completed, eliminating immediate CapEx exposure for the next owner. The property features an optimal, highly marketable unit mix consisting of (4) 2 beds + 1 bath units and (4) 1 bed + 1 bath units. Investors can systematically modernize unit interiors upon natural turnover to capture rental upside in a neighborhood commanding elite market premiums. In a dense submarket where parking is fiercely competitive, the building offers a distinct tenant advantage with 7 dedicated carport spaces. Boasting a spectacular 80 Walk Score and 80 Transit Score, residents enjoy seamless access to local boutique shopping, premier dining corridors, and quick commutes into DTLA, Hollywood, and the Miracle Mile employment hubs. The property is subject to Los Angeles rent control.

Location

4803 Elmwood Avenue

Los Angeles, Los Angeles, CA, 90004