7
See all 7 photos
$4,300,000
Est. payment /mo
22,400 SqFt
Active
2910 W 8th Street Los Angeles, CA 90005
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 22,400 sqft
Price per Sqft $191
MLS Listing ID CL25517279
HOA Y/N No
Year Built 1926
Lot Size 7,517 Sqft
Acres 0.17
Property Sub-Type Other
Property Description
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 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.
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating None
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5077023014
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Listed by Neema Ahadian • Marcus & Millichap