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$ 3,925,000
Est. payment | /mo
11,792 SqFt
$ 3,925,000
Est. payment | /mo
11,792 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 11,792 sqft
Price per Sqft $332
MLS Listing ID CL26660495
HOA Y/N No
Year Built 1989
Lot Size 9,018 Sqft
Acres 0.207
Property Sub-Type Other
Property Description
HUGE PRICE REDUCTION: NOW 6.98 CAP and 9.02 GRM!!!! We are pleased to present 311 S New Hampshire Avenue, a rare opportunity to acquire a 16-unit apartment building located in the heart of Los Angeles' dynamic Koreatown submarket. Built in 1989, the property benefits from exemption to the City of Los Angeles Rent Stabilization Ordinance, providing investors with operational flexibility and the ability to capture substantial rental upside. The property is subject only to AB 1482, allowing for continued rent growth aligned with market performance. Situated on a desirable residential street just moments from Koreatown's premier dining, retail, and employment centers, 311 S New Hampshire Avenue offers an exceptional unit mix consisting of eight one-bedroom, one-bath units and eight two-bedroom, two-bath units. This balanced configuration appeals to a broad tenant base, including young professionals, couples, and families seeking quality housing in one of Los Angeles' most vibrant urban neighborhoods. The property has been professionally managed and features desirable amenities including secured subterranean parking and an on-site laundry facility, enhancing tenant convenience while providing additional income potential. With strong in-place income and meaningful rental upside potential, investors are presented with the opportunity to increase cash flow and long-term asset value through strategic management and interior upgrades. 311 S New Hampshire Avenue represents a rare opportunity to acquire a newer-vintage multifamily asset in Koreatown, one of Los Angeles' strongest and most supply-constrained rental markets. The combination of its favorable vintage, ideal unit mix, prime location, and upside potential positions the property as an exceptional long-term investment.
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Heating Other
Cooling Central Air
Fireplace No
Building
New Construction No
Others
Tax ID 5502007014
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Listed by Jonathan Taksa • Remax Commercial and Investment Realty
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