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$ 4,900,000
Est. payment | /mo
1 Bed
47 Baths
26,756 SqFt
$ 4,900,000
Est. payment | /mo
1 Bed
47 Baths
26,756 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 26,756 sqft
Price per Sqft $183
MLS Listing ID 25517333
Bedrooms 1
HOA Y/N No
Year Built 1924
Lot Size 9,047 Sqft
Property Description
We are excited to present a prime investment opportunity at 2819 Leeward Ave in the vibrant Koreatown neighborhood of Los Angeles. Situated between S. Hoover St. and Vermont Ave, just one block south of Southwestern Law School, this property offers 47 units in total, including 46 single units and one one-bedroom unit. The property is offered at $104,255 per unit, equating to $183 per square foot, with an impressive 6.76% CAP rate and 7.58 GRM based on current income. Additionally, there is significant rental upside potential of 24% as units turn over. The building is separately metered for electricity and features an on-site community laundry room leased with Wash, including five washers and five dryers for added convenience. With a high Walk Score of 93, the location is ideal for residents looking for easy access to schools, employment centers, and public transit. The property is within walking distance to retail along 7th St., just one mile from the Metro D Line rail station, and steps away from several Metro local lines on 8th St. and S. Hoover St. Koreatown is one of the densest neighborhoods in Los Angeles, with a population of around 120,000. Since the early 2000s, Koreatown has seen over $1 billion in development, and the area continues to be a prime location for real estate investment due to ongoing projects and growth.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features None
Building
Story 4
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 5077015015
Special Listing Condition Standard
Listed by Neema Ahadian • Marcus & Millichap
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "