Property Detail

Description

First time on the market in over 30 years! This well-maintained Koreatown multifamily asset has been owned and operated by the same family trust, presenting an exceptionally rare opportunity for investors. Ideally located just south of Beverly Blvd and east of Western Ave, the property is situated in one of Koreatown's most desirable multifamily corridors, with a nearby Metro station and top amenities just moments away. Set on an expansive 14,201 SF lot, the property features rare on-site surface parking, a highly sought-after feature in Koreatown. Zoned LAR3, the site offers future redevelopment potential, making it an attractive long-term hold with multiple exit strategies. With a submarket vacancy rate of just 3% and strong historical rent growth, this property is located in a high-demand rental area. Current rents are significantly below market, offering 20-30% upside through renovation and unit repositioning. An ideal value-add opportunity for investors seeking stable cash flow and long-term appreciation. Perfect for 1031 exchange buyers, private investors, or owner-users looking for secure, inflation-hedged returns in a central LA location.