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252 S New Hampshire Avenue

Los Angeles (City), CA 90004
  • $4,495,000
  • STATUS: Active Under Contract
  • ON SITE: 86 Days
  • ID#: 24371579
Under Contract
UPDATED: 132 min ago
$4,495,000
  • 0
    BEDS
  • 0.34
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1955
County:

School Ratings & Info

Listing Agent(s): Mark Ventre of Kidder Mathews of California, Inc. (858-369-3010)


Description

252 S New Hampshire Ave represents an opportunity to purchase a largely renovated and repositioned asset in the heart of Koreatown. Twelve of the nineteen units have been upgraded with modern features and amenities, leaving approximately 30% upside in rental income. The buyer may also capture additional upside by maximizing operational efficiencies with the implementation RUBS, charging for parking, and the possibility of adding ADU(s). The nineteen-unit courtyard-style walkup sits on a large 15,000 sq.ft. double lot just north of 3rd Street. The unit mix of (18) one-bedrooms and (1) studio is a great mix for this location and commensurate with the Koreatown tenant base that has a median age of 30. There are approximately 19 parking spaces, consisting of 10 tuck-under spaces and 9 uncovered spaces in the front lot. The unit interiors have been upgraded with efficient stainless-steel appliances; five-burner gas range; hardwood-style flooring; A/C; dishwasher; wood-style blinds; quartz countertops; duel-paned windows; and new bathroom vanities and tubs. The common area amenities include a beautifully landscaped courtyard and laundry room. The building is separately metered for both electric and gas utilities. Additionally, the building has new exterior paint, upgraded electrical systems, predominantly upgraded copper plumbing, and new asphalt slurry.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T19:31:48.303. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
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252 S New Hampshire Avenue Los Angeles (City), CA 90004

  • Price: $4,495,000
  • Status: Active Under Contract
  • On Site: 86 Days
  • Updated: 132 min ago
  • ID#: 24371579
0
Beds
0
Baths
0
½ Baths
0.34
Acres
1955
Built
Neighborhood:
C17 - Mid-Wilshire
County:
Los Angeles
Area:
C17 - Mid-Wilshire
Property Description
252 S New Hampshire Ave represents an opportunity to purchase a largely renovated and repositioned asset in the heart of Koreatown. Twelve of the nineteen units have been upgraded with modern features and amenities, leaving approximately 30% upside in rental income. The buyer may also capture additional upside by maximizing operational efficiencies with the implementation RUBS, charging for parking, and the possibility of adding ADU(s). The nineteen-unit courtyard-style walkup sits on a large 15,000 sq.ft. double lot just north of 3rd Street. The unit mix of (18) one-bedrooms and (1) studio is a great mix for this location and commensurate with the Koreatown tenant base that has a median age of 30. There are approximately 19 parking spaces, consisting of 10 tuck-under spaces and 9 uncovered spaces in the front lot. The unit interiors have been upgraded with efficient stainless-steel appliances; five-burner gas range; hardwood-style flooring; A/C; dishwasher; wood-style blinds; quartz countertops; duel-paned windows; and new bathroom vanities and tubs. The common area amenities include a beautifully landscaped courtyard and laundry room. The building is separately metered for both electric and gas utilities. Additionally, the building has new exterior paint, upgraded electrical systems, predominantly upgraded copper plumbing, and new asphalt slurry.
Exterior Features

Construction Materials Stucco Open Parking Spaces 10 Parking Total 19

Property Features

Association Fee 0 Building Name New Hampshire Apartments Cap Rate 5.28 Disclosures Rent Control Laundry Features Common Area Lease Assignable YN No Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 239812 Rent Control YN Yes Security Features Key Card Entry Special Listing Conditions Standard Tax Year 2023 Zoning LAR3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T19:31:48.303. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
 
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Team Tami | Palm Realty Boutique
323 Culver Blvd.
Playa del Rey CA, 90293
Listing Agent(s): Mark Ventre of Kidder Mathews of California, Inc. (858-369-3010)