2910 W 8th St - Apartments FOR SALE


Los Angeles, CA 90005- Koreatown
$4,300,000 USD
310-909-5444
2910 W 8th St, Los Angeles, CA for Sale
$4,300,000 USD
Apartments - FOR SALE
1/6
null | 6.3% Cap Rate

2910 W 8th St
Los Angeles, CA 90005
Koreatown


HIGHLIGHTS

  • The Neema Group is pleased to present a 43-unit investment opportunity at 2910 W 8th St in Koreatown
  • 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
  • Additional 32% rental upside achievable as units turn

OVERVIEW

The Neema Group of Marcus & Millichap is 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.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$192 USD /SF

# OF UNITS

43

PRICE/UNIT

$100,000

CAP RATE

6.3%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

La Bandera Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,327 SF

ZONING

C2-2, Los Angeles

APN/PARCEL ID

5077-023-014

ASK ABOUT THIS PROPERTY

Neema AhadianMarcus & MillichapMore Info
310-909-5444

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Neema AhadianMarcus & MillichapMore Info
310-909-5444

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