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542 S Hobart Boulevard

Los Angeles (City), CA 90020
  • $8,816,000
  • STATUS: Active
  • ON SITE: 19 Days
  • ID#: AR22159602
UPDATED: 71 min ago
$8,816,000
  • 0
    BEDS
  • 0.39
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1960
County:

School Ratings & Info

Listing Agent(s): Justin Mccardle of Gig Real Estate Inc. (626-594-4901)


Description

Just Listed- this incredible 37 Unit Value-Add Opportunity in the heart of Koreatown. Property is located 1 block North of Wilshire Blvd and has been held by the same owner since the mid 1990s. Koreatown is a thriving market with many new developments taking place and a strong demand for housing in the area. Theres significant rental upside (44% +/-), creating long term value for the next owner. The property has a common area laundry, on grade gated parking, secure entrance, individually metered for gas / electricity, and has a pool in the back! The property has great curb appeal with a gated security entrance and on grade parking. There is a podium style parking garage, with 30 spaces and 4 spots out front and is not subject to any soft story retrofit requirements. This building is an attractive investment, in a prime location. Generational property in a thriving market.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-09T20:30:41.69. 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 Bathurst Coastal Properties | Compass. Licensed in the State of California, USA.
www.livelovebeachcities.com/homes/131085528
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542 S Hobart Boulevard Los Angeles (City), CA 90020

  • Price: $8,816,000
  • Status: Active
  • On Site: 19 Days
  • Updated: 71 min ago
  • ID#: AR22159602
0
Beds
0
Baths
0
½ Baths
0.39
Acres
1960
Built
Neighborhood:
KREA - Koreatown
County:
Los Angeles
Area:
KREA - Koreatown
Property Description
Just Listed- this incredible 37 Unit Value-Add Opportunity in the heart of Koreatown. Property is located 1 block North of Wilshire Blvd and has been held by the same owner since the mid 1990s. Koreatown is a thriving market with many new developments taking place and a strong demand for housing in the area. Theres significant rental upside (44% +/-), creating long term value for the next owner. The property has a common area laundry, on grade gated parking, secure entrance, individually metered for gas / electricity, and has a pool in the back! The property has great curb appeal with a gated security entrance and on grade parking. There is a podium style parking garage, with 30 spaces and 4 spots out front and is not subject to any soft story retrofit requirements. This building is an attractive investment, in a prime location. Generational property in a thriving market.
Exterior Features

Number Of Separate Electric Meters 37 Parking Total 33 Pool Features In GroundPrivate Pool Private YN Yes Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features Urban Garage YN Yes Gross Income 551619 Gross Scheduled Income 526871 Insurance Expense 9000 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanTrust Conveyance Net Operating Income 308547 New Construction YN No Number Of Separate Gas Meters 37 Number Of Separate Water Meters 1 Operating Expense 226523 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Trust Tenant Pays ElectricityGas Trash Expense 12939 Water Sewer Expense 49584 Water Source Public Zoning Lar4



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-09T20:30:41.69. 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 Bathurst Coastal Properties | Compass. Licensed in the State of California, USA.
 
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Bathurst Coastal Properties | Compass
2141 Rosecrans Ave, Suite 1120
El Segundo CA, 12345
Listing Agent(s): Justin Mccardle of Gig Real Estate Inc. (626-594-4901)