1639 S Hobart, Los Angeles, CA 90006
List Price: $3.79M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Year Built: 1963
Lot Size: 10,018 sq ft
Annual Property Tax: $42,260
MLS Number: CV26204221
About This Property
Rare opportunity to acquire a substantial multifamily investment property in the highly desirable Mid-City/Harvard Heights area of Los Angeles. The property features 17 units on an approximately 10,018-square-foot lot, offering investors a sizable existing rental asset with meaningful value-add potential. The property includes 14 existing units plus 3 attached ADUs, providing an attractive opportunity to enhance the income-producing potential of the property. Five units have been fully remodeled with permitted improvements, including updated kitchens, modern cabinetry, flooring, lighting, bathrooms, and other interior and exterior enhancements. The property benefits from individually metered gas and electricity, gated parking, and a well-positioned two-story configuration. The approximately 9311-sq ft building sits within a commercially zoned area for both multi-family and retail. It offers investors multiple avenues to improve operations, rents, and overall property performance, subject to applicable approvals and regulations. This property maintains an approximate cap rate of 5.14% from Day 1 and upside up to a Proforma rate of 10.48%. Strategically located along Venice Boulevard with convenient access to Koreatown, Downtown Los Angeles, Culver City, major employment centers, public transportation, and regional freeways. This is a compelling opportunity for investors seeking an established multifamily asset in a central Los Angeles location with existing improvements and additional upside potential.
Listing provided by: Alam Khandakar DRE #01488037 626-858-8626 alamk.trt@gmail.com, TRT CAPITAL
