We are excited to present a prime investment opportunity at 2819 Leeward Ave in the vibrant Koreatown neighborhood of Los Angeles. Situated between S. Hoover St. and Vermont Ave, just one block south of Southwestern Law School, this property offers 47 units in total, including 46 single units and one… Read More one-bedroom unit. The property is offered at $104,255 per unit, equating to $183 per square foot, with an impressive 6.76% CAP rate and 7.58 GRM based on current income. Additionally, there is significant rental upside potential of 24% as units turn over. The building is separately metered for electricity and features an on-site community laundry room leased with Wash, including five washers and five dryers for added convenience. With a high Walk Score of 93, the location is ideal for residents looking for easy access to schools, employment centers, and public transit. The property is within walking distance to retail along 7th St., just one mile from the Metro D Line rail station, and steps away from several Metro local lines on 8th St. and S. Hoover St. Koreatown is one of the densest neighborhoods in Los Angeles, with a population of around 120,000. Since the early 2000s, Koreatown has seen over $1 billion in development, and the area continues to be a prime location for real estate investment due to ongoing projects and growth. Read Less
Property listed by Marcus & Millichap, Neema Ahadian 310-909-5500
Listing Snapshot
Days Online
71
Last Updated
Property Type
Other
Beds
1
Square Ft.
26,756
Lot Size
0.21 Acres
Year Built
1924
MLS Number
25517333
30 Days Snapshot Of 90005
$989k
+14%
(avg) sold price
4
+33%
homes sold
81
+55%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1924, Building area total: 26,756, Levels: ThreeOrMore, Living area: 26756, 1 building
Cooling
None
Heating
None
Income
Gross income: $646,621, Net operating income: $331,167
Lot
0.2077 acres, 9,048 square feet, Size: 9,048
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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