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Sold for $1,550,000 on 08/22/24
  • Listing Provided by: 

    Bryce Cheng DRE #02048972 brycetcheng@gmail.com,

    Ko Tai Realty,

    Alan Friedman DRE #00931498 626-354-3740,

    Ko Tai Realty

    $1,550,000

    851-857 S New Hampshire Ave, Los Angeles, CA 90005

    --beds
    --baths
    4,684sqft
    Multi Family
    Built in 1921
    -- sqft lot
    $1,531,100 Zestimate®
    $331/sqft
    $2,461 Estimated rent

    What's special

    Welcome to a prime investment opportunity nestled in the heart of Koreatown. This 4-unit apartment complex offers a chance for investors or owner-occupants seeking a high-demand rental property in one of LA's most dynamic neighborhoods. Gated parking with two spaces per unit. In-unit laundry hook-ups and separate water heaters. Private balconies.Property Overview:Location: Situated in the coveted Koreatown district, this property enjoys proximity to an array of amenities including shopping centers, restaurants, entertainment venues, and public transportation hubs.Unit Mix: The complex comprises four spacious units thoughtfully designed to cater to the needs of urban dwellers. Each unit offers a blend of comfort, functionality, and modern conveniences. Each unit is Two Bedroom, two bathrooms on one level of approximately 1,170 square feet.Income Potential: With strong rental demand in Koreatown, this property presents an attractive income-generating opportunity for investors. The consistently high demand for housing in this area should provide stable rental income and potential for long-term appreciation.Spacious Layouts: Each unit boasts generous living spaces, providing residents with ample room for relaxation and entertainment.Investment Highlights:Strong Market Fundamentals: Koreatown continues to attract renters due to its central location, diverse cultural offerings, and vibrant atmosphere.Stable Cash Flow: With a proven track record of rental success, this property should offer a stable source of cash flow for investors.Value-Add Potential: While already well-maintained, there is potential for further enhancement and value-add opportunities to maximize rental income.Low Vacancy Rates: Demand for housing in Koreatown remains consistently high, resulting in low vacancy rates.Don't miss out on this exceptional investment opportunity in Koreatown, whether you're a seasoned investor looking to expand your portfolio or a newcomer!

    Zillow last checked: 7 hours ago

    Listing updated: December 04, 2024 at 07:19pm

    Listing Provided by:

    Bryce Cheng DRE #02048972 brycetcheng@gmail.com,

    Ko Tai Realty,

    Alan Friedman DRE #00931498 626-354-3740,

    Ko Tai Realty

    Bought with:

    Sookie Huskey, DRE #01305467

    Coldwell Banker George Realty

    Source: CRMLS,MLS#: P1-17154MLS LogoOriginating MLS: California Regional MLS (Ventura & Pasadena-Foothills AORs)

    Facts & features

    Interior

    Heating
    • Natural Gas, Wall Furnace
    Cooling
    • Wall/Window Unit(s)
    Appliances
    • Included: Exhaust Fan, Gas Water Heater, Water Heater
    • Laundry: Washer Hookup, Gas Dryer Hookup, Inside, Laundry Room
    Features
    • Balcony, Block Walls, Crown Molding, Laminate Counters, Multiple Staircases, Storage, Unfurnished, Bedroom on Main Level
    • Flooring: Carpet, Laminate, Vinyl
    • Windows: Wood Frames
    • Has fireplace: No
    • Fireplace features: None
    • Common walls with other units/homes: No Common Walls
    Interior area
    • Total structure area: 4,684
    • Total interior livable area: 4,684 sqft

    Property

    Parking
    • Total spaces: 8
    • Parking features: Assigned, Driveway Level, Gated, On Site, Off Street, Paved, One Space
    • Uncovered spaces: 8
    Accessibility
    • Accessibility features: None
    Features
    • Levels: Two
    • Stories: 2
    • Entry location: 1st Floor
    • Exterior features: Awning(s), Lighting
    • Pool features: None
    • Spa features: None
    • Fencing: Fair Condition
    • Has view: Yes
    • View description: None
    Lot
    • Size: 7,506 sqft
    • Features: Front Yard, Lawn, Near Public Transit, Paved, Rectangular Lot, Street Level, Yard
    Details
    • Parcel number: 5094013007
    • Zoning: R4-2
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Architectural style: Mediterranean
    • Property subtype: Multi Family
    Materials
    • Block, Drywall, Glass, Stucco
    • Foundation: Raised
    • Roof: Flat,Rolled/Hot Mop,Spanish Tile
    Condition
    • New construction: No
    • Year built: 1921

    Utilities & green energy

    • Electric: Electricity - On Property, Standard
    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: Cable Available, Cable Connected, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Sewer Available, Sewer Connected, Underground Utilities, Water Available, Water Connected, Overhead Utilities

    Community & neighborhood

    Security
    • Security features: Carbon Monoxide Detector(s), Security Gate, Smoke Detector(s), Security Lights
    Community
    • Community features: Biking, Curbs, Golf, Park, Storm Drain(s), Street Lights, Sidewalks, Urban
    Location
    • Region: Los Angeles
    • Subdivision: Not Applicable

    Other

    Other facts
    • Listing terms: Cash,Cash to New Loan
    • Road surface type: Alley Paved, Paved
    Services availability
    Get a cash offer in 3 minutes

    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.

    Estimated market value

    $1,531,100

    Get a cash offer in 3 minutes

    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.

    Estimated market value

    $1,531,100