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Multifamily

3960 W 8th St

3960 W 8th St, Los Angeles, CA 90005

Listing Price: $2,979,000

Cap Rate
3.75%
Number of Units
10
Price/Unit
$297,900
Price/Gross SF
$385.48
Gross SF
7,728

Investment Overview

The location... The highly-coveted Koreatown investment market….close to “best LA has to offer”. Hancock Park to the North; The Grove, The Farmer’s Market and Beverly Center to the West: and to the East – the heart of Koreatown and Downtown LA. And the Wilshire/Western Light Rail Station is easily "walkable". The asset... 4 of the 10 units have been extensively remodeled with Shaker cabinetry and vanities, new appliances, custom tile showers & new wood flooring. That being said, there's massive "meat-on-the-bone" still with almost 50% rent upside on proforma rents. The unit mix is diverse: six 1/1s, two 2/1s and two Studios. Current Gross Income is $14,635/month; Proforma Income of over $21K/month. 7,728 sq. feet on a 7,150 sq. foot corner lot (R3). 14 parking spots in total. The seismic retrofit aka "soft story" has been completed.

Investment Highlights

  • 40% unrealized UPSIDE in rent
  • 4 of the 10 unit extensively remodeled
  • Diverse unit mix: six 1/1s, two 2/1s, and two Studios
  • Seismic retrofit has been completed
  • Minutes to The Grove, Farmer's Market and Beverly Center

Exclusively Listed By

Multifamily

3960 W 8th St

Listing Price: $2,979,000

Cap Rate
3.75%
Number of Units
10
Price/Unit
$297,900
Price/Gross SF
$385.48
Gross SF
7,728

Investment Highlights

  • 40% unrealized UPSIDE in rent
  • 4 of the 10 unit extensively remodeled
  • Diverse unit mix: six 1/1s, two 2/1s, and two Studios
  • Seismic retrofit has been completed
  • Minutes to The Grove, Farmer's Market and Beverly Center

Investment Overview

The location... The highly-coveted Koreatown investment market….close to “best LA has to offer”. Hancock Park to the North; The Grove, The Farmer’s Market and Beverly Center to the West: and to the East – the heart of Koreatown and Downtown LA. And the Wilshire/Western Light Rail Station is easily "walkable". The asset... 4 of the 10 units have been extensively remodeled with Shaker cabinetry and vanities, new appliances, custom tile showers & new wood flooring. That being said, there's massive "meat-on-the-bone" still with almost 50% rent upside on proforma rents. The unit mix is diverse: six 1/1s, two 2/1s and two Studios. Current Gross Income is $14,635/month; Proforma Income of over $21K/month. 7,728 sq. feet on a 7,150 sq. foot corner lot (R3). 14 parking spots in total. The seismic retrofit aka "soft story" has been completed.

Exclusively Listed By

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