We are pleased to present a 43-unit investment opportunity at 2910 W 8th St in Koreatown located between S Hoover St and Vermont Ave. The subject property totals 36 single units and seven one-bedrooms. Offered at $100,000 per unit at $192 PSF at a 6.30% CAP rate and 7.63 GRM… Read More on current income at the asking price with an additional 32% rental upside achievable as units turn. The building is separately metered for electric and has an on-site community laundry room leased with Wash with four washers and four dryers. High Walk Score of 97, close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. Walking distance to neighborhood retail along Vermont Ave; less than a mile from the Metro D Line rail station and steps from several Metro local lines along 8th St and Vermont Ave. Koreatown is one of the densest neighborhoods in Los Angeles, with about 120,000 people. With an estimated $1 billion invested in the development of Koreatown since the early 2000s and various development projects taking place, Koreatown remains one of the best areas to invest in. Read Less
Property listed by Marcus & Millichap, Neema Ahadian 310-909-5500
Listing Snapshot
Days Online
70
Last Updated
Property Type
Other
Beds
7
Square Ft.
22,400
Lot Size
0.17 Acres
Year Built
1926
MLS Number
25517279
30 Days Snapshot Of 90005
$933k
+7%
(avg) sold price
5
+66%
homes sold
79
+51%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1926, Building area total: 22,400, Levels: ThreeOrMore, Living area: 22400, 1 building
Cooling
None
Heating
None
Income
Gross income: $563,750, Net operating income: $271,101
Lot
0.1726 acres, 7,517 square feet, Size: 7,517
Parking
None
Property
Zoning: LAR4
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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