1103 S Hobart Blvd - Apartments FOR SALE


Los Angeles, CA 90006- Koreatown
$1,095,000 USD
213-995-6684
1103 S Hobart Blvd, Los Angeles, CA for Sale
$1,095,000 USD
Apartments - FOR SALE
1/14
null | 6.96% Cap Rate

1103 S Hobart Blvd
Los Angeles, CA 90006
Koreatown


HIGHLIGHTS

  • Lender Owned Investment Opportunity
  • Value Add Opportunity
  • Ideal Koreatown Location
  • Great Owner-User Opportunity
  • Redevelopment Potential with TOC Tier 3 Designation

OVERVIEW

Lee & Associates Apartment Advisors is proud to present Hobart Apartments, a Lender Owned investment opportunity located at 1103 S. Hobart Blvd, Los Angeles, CA. The offering is a four unit property located in the Koreatown district of Los Angeles. The property is comprised of three x two bedroom/one bath, and one x three bedroom/one and three-quarter bath apartments. Please note, the 3 bedroom unit's interior closets are in the hallway. The three bedroom apartment is ideal for an owner-user. Please note, the three bedroom unit's interior closets are in the hallway. The property was constructed in 1962 and is subject to the city of Los Angeles Rental Stabilization Ordinance. The ±3,303 SF property is situated on a ±6,214 corner parcel. The property is individually metered for gas and electricity. Additionally, the property has individual water heaters. Currently, there are three occupancies; with one occupant in eviction. Recent capital improvements include newer windows, and mini-split air conditioning systems. The property is zoned R3 and is in a Transit Oriented Community Tier 3 density bonus area. This provides a developer incentives which allows for increased density of 70% of the by right unit allocation. The offering is an ideal opportunity for an investor to acquire a value add asset at a discount in an ideal central Koreatown location with strong tenant demand.

FOR SALE DETAILS

PRICE

$1,095,000 USD

PRICE/SF

$332 USD /SF

# OF UNITS

4

PRICE/UNIT

$273,750

CAP RATE

6.96%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Best & Final Offers Due 12/11/2024

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,214 SF

ZONING

LAR3

APN/PARCEL ID

5080-018-012

ASK ABOUT THIS PROPERTY

Robert LeveenLee & AssociatesMore Info
213-995-6684

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Robert LeveenLee & AssociatesMore Info
213-995-6684

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.