2060 S Hobart Blvd - Apartments FOR SALE


Los Angeles, CA 90018- Koreatown
$5,150,000 USD
310-467-7581
2060 S Hobart Blvd, Los Angeles, CA for Sale
$5,150,000 USD
Apartments - FOR SALE
1/9
null | 4.2% Cap Rate

2060 S Hobart Blvd
Los Angeles, CA 90018
Koreatown


HIGHLIGHTS

  • Prime Harvard Heights just south of Koreatown on a block of Hobart that is not a through street allowing for very little traffic
  • Exterior upgrades include glass security door, a renovated lobby, new mailboxes, Amazon delivery box, updated exterior paint/lights
  • Common area upgrades include a renovated hallway, unit numbers and common laundry area
  • Immediate value can be created with the addition of ADUs. Buyer to verify
  • There is currently 53% upside in current rents. Proforma cap rate is 7.55% and proforma GRM is 9.78.

OVERVIEW

The James Group is pleased to present 2060 S. Hobart Blvd, a value-add multifamily investment opportunity in Harvard Heights, just South of Koreatown. The subject property is a three story apartment building built in 1963 and consist of (1) Studio, (11) one bedrooms, and (8) two bedroom units in a 15,461 square foot building. Currently 100% occupied, the property sits on a large 11,994 square foot lot zoned RD2. There are a total 20 parking spaces including 14 individual parking spaces and 6 tandem spaces. The property is separately metered for both gas and electricity. A communal laundry is located on the ground floor. The property has undergone exterior and common area renovations which include an updated lobby, new paint, Amazon locker, updated security door, and updated interior and exterior lights. 4 of the 20 units have been renovated. The street is very quiet surrounded by homes with very little traffic.

FOR SALE DETAILS

PRICE

$5,150,000 USD

PRICE/SF

$333 USD /SF

# OF UNITS

20

PRICE/UNIT

$257,500

CAP RATE

4.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,001 SF

ZONING

R4

APN/PARCEL ID

5074-032-007

ASK ABOUT THIS PROPERTY

Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

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Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

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