5
See all 5 photos
$2,500,000
Est. payment /mo
13,115 SqFt
Active
1922 S Hobart Boulevard Los Angeles, CA 90018
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 13,115 sqft
Price per Sqft $190
MLS Listing ID CL25523121
HOA Y/N No
Year Built 1970
Lot Size 0.318 Acres
Acres 0.32
Property Sub-Type Other
Property Description
We are pleased to present 1922 S Hobart Blvd, a 16-unit value-add investment opportunity in the Harvard Heights neighborhood of Los Angeles. Ideally situated just south of W Washington Blvd, the property offers convenient access to Downtown Los Angeles, Koreatown, and the 10 Freeway. The subject property was originally a HUD Project-Based Section 8 property and was opted out of the HUD program in March 2013. The building features a desirable unit mix of six one-bedroom and 10 two-bedroom units, all of which are currently leased below market, presenting investors with over 58% rental upside. The property is well positioned for a Naturally Occurring Affordable Housing (NOAH) conversion, as 25% of the current tenants are voucher holders, while the remaining units rent for below approximately 80% of the area's median income (AMI). This favorable rent structure enhances the property's long-term stability and appeals to both value-add and mission-driven affordable housing operators. The property benefits from its central location, just steps from metro stops along W Washington Blvd and within walking distance of major retailers along S Western Ave. Harvard Heights is a densely populated neighborhood of over 20,000 residents, known for its architecturally significant real estate and pro
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating None
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5074032026
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Listed by Neema Ahadian • Marcus & Millichap