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851 857 S New Hampshire Avenue

Los Angeles (City), CA 90005
  • $1,475,000
  • STATUS: Active Under Contract
  • ON SITE: 58 Days
  • ID#: P1-17154
Under Contract
UPDATED: 72 min ago
$1,475,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1921
County:

School Ratings & Info

Listing Agent(s): Bryce Cheng of Ko Tai Realty ((626) 285-8333) and Alan Friedman of ()


Description

Welcome to a prime investment opportunity nestled in the heart of Koreatown. This 4-unit apartment complex offers a chance for investors or owner-occupants seeking a high-demand rental property in one of LA's most dynamic neighborhoods. Gated parking with two spaces per unit. In-unit laundry hook-ups and separate water heaters. Private balconies.Property Overview:Location: Situated in the coveted Koreatown district, this property enjoys proximity to an array of amenities including shopping centers, restaurants, entertainment venues, and public transportation hubs.Unit Mix: The complex comprises four spacious units thoughtfully designed to cater to the needs of urban dwellers. Each unit offers a blend of comfort, functionality, and modern conveniences. Each unit is Two Bedroom, two bathrooms on one level of approximately 1,170 square feet.Income Potential: With strong rental demand in Koreatown, this property presents an attractive income-generating opportunity for investors. The consistently high demand for housing in this area should provide stable rental income and potential for long-term appreciation.Spacious Layouts: Each unit boasts generous living spaces, providing residents with ample room for relaxation and entertainment.Investment Highlights:Strong Market Fundamentals: Koreatown continues to attract renters due to its central location, diverse cultural offerings, and vibrant atmosphere.Stable Cash Flow: With a proven track record of rental success, this property should offer a stable source of cash flow for investors.Value-Add Potential: While already well-maintained, there is potential for further enhancement and value-add opportunities to maximize rental income.Low Vacancy Rates: Demand for housing in Koreatown remains consistently high, resulting in low vacancy rates.Don't miss out on this exceptional investment opportunity in Koreatown, whether you're a seasoned investor looking to expand your portfolio or a newcomer!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T17:30:27.263. 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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851 857 S New Hampshire Avenue Los Angeles (City), CA 90005

  • Price: $1,475,000
  • Status: Active Under Contract
  • On Site: 58 Days
  • Updated: 72 min ago
  • ID#: P1-17154
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1921
Built
Neighborhood:
Not Applicable
County:
Los Angeles
Property Description
Welcome to a prime investment opportunity nestled in the heart of Koreatown. This 4-unit apartment complex offers a chance for investors or owner-occupants seeking a high-demand rental property in one of LA's most dynamic neighborhoods. Gated parking with two spaces per unit. In-unit laundry hook-ups and separate water heaters. Private balconies.Property Overview:Location: Situated in the coveted Koreatown district, this property enjoys proximity to an array of amenities including shopping centers, restaurants, entertainment venues, and public transportation hubs.Unit Mix: The complex comprises four spacious units thoughtfully designed to cater to the needs of urban dwellers. Each unit offers a blend of comfort, functionality, and modern conveniences. Each unit is Two Bedroom, two bathrooms on one level of approximately 1,170 square feet.Income Potential: With strong rental demand in Koreatown, this property presents an attractive income-generating opportunity for investors. The consistently high demand for housing in this area should provide stable rental income and potential for long-term appreciation.Spacious Layouts: Each unit boasts generous living spaces, providing residents with ample room for relaxation and entertainment.Investment Highlights:Strong Market Fundamentals: Koreatown continues to attract renters due to its central location, diverse cultural offerings, and vibrant atmosphere.Stable Cash Flow: With a proven track record of rental success, this property should offer a stable source of cash flow for investors.Value-Add Potential: While already well-maintained, there is potential for further enhancement and value-add opportunities to maximize rental income.Low Vacancy Rates: Demand for housing in Koreatown remains consistently high, resulting in low vacancy rates.Don't miss out on this exceptional investment opportunity in Koreatown, whether you're a seasoned investor looking to expand your portfolio or a newcomer!
Exterior Features

Architectural Style Mediterranean Construction Materials BlockDrywallGlassStucco Direction Faces East Entry Level 12 Entry Location 1st Floor Exterior Features Awning(s)Lighting Fencing Fair Condition Foundation Details Raised Lot Features Front YardLawnNear Public TransitPavedRectangular LotStreet LevelYard Number Of Separate Electric Meters 5 Open Parking Spaces 8 Parking Features AssignedDriveway LevelGatedOn SiteOff StreetPavedOne Space Parking Total 8 Pool Features None Pool Private YN No Property Attached YN No Road Frontage Type AlleyCity Street Road Surface Type Alley PavedPaved Roof FlatRolled/Hot MopSpanish Tile Spa Features None Spa YN No View None View YN No

Interior Features

Accessibility Features None Appliances Exhaust FanGas Water HeaterWater Heater Common Walls No Common Walls Cooling Wall/Window Unit(s) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring CarpetLaminateVinyl Heating Natural GasWall Furnace Heating YN Yes Interior Features BalconyBlock WallsCrown MoldingLaminate CountersMultiple StaircasesStorageUnfurnishedBedroom on Main Level Window Features Wood Frames

Property Features

Additional Parcels YN No Association Fee 0 Community Features BikingCurbsGolfParkStorm Drain(s)Street LightsSidewalksUrban Disclosures Rent Control Electric Electricity - On PropertyStandard Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 83979 Gross Scheduled Income 83979 Insurance Expense 2296.09 Land Lease YN No Laundry Features Washer HookupGas Dryer HookupInsideLaundry Room Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Net Operating Income 49846.74 New Construction YN No New Taxes Expense 18437.5 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Operating Expense 34132.26 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN Yes Security Features Carbon Monoxide Detector(s)Security GateSmoke Detector(s)Security Lights Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TVElectricityGas Trash Expense 4257.48 Utilities Cable AvailableCable ConnectedElectricity AvailableElectricity ConnectedNatural Gas AvailableNatural Gas ConnectedPhone AvailableSewer AvailableSewer ConnectedUnderground UtilitiesWater AvailableWater ConnectedOverhead Utilities Water Sewer Expense 7469.34 Water Source Public Zoning R4-2



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T17:30:27.263. 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): Bryce Cheng of Ko Tai Realty ((626) 285-8333) and Alan Friedman of ()