$3,198,000
343 S Occidental BLVD Los Angeles, CA 90057
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$3,198,000
Est. payment /mo
10,218 SqFt
UPDATED:
09/30/2024 06:30 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,218 sqft
Price per Sqft $312
MLS Listing ID 24406887
HOA Y/N No
Year Built 1949
Lot Size 0.281 Acres
Property Description
18 unit low rise garden style apartment building for sale with tremendous upside of 53% to peak proforma in one of the few remaining pockets in Los Angeles that hasn't seen big growth...yet. A short drive off the 101 and the Silver Lake Blvd exit is 343 S Occidental Blvd. The location is Silver Lake a few blocks to the north and Koreatown a few blocks to the east. 10 of the units are one bed one bath, 8 are studios. Rents were last raised February 2024. Current rents are $18,936/mo ($227,236/yr). Highest 1 bed unit is $1700/mo. Highest studio is $1500/mo. February 2025 rents at 4% increase gets to a 4.8 cap & 13.5 GRM. Proforma rents indicate $29,000/mo or ($348,000/yr) at 8.3 cap & 9.2 GRM. All units are occupied and rents are current. Laundry is on site. There are 13 parking spaces with the potential to add more. Soft story retrofit completed in 2019.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR4
Interior
Heating Wall Furnace
Fireplace No
Appliance Disposal
Exterior
Garage Carport, One Space, Uncovered
Parking Type Carport, One Space, Uncovered
Total Parking Spaces 13
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5155009006
Special Listing Condition Standard
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Listed by Aram Gaboudian • Keller Williams Downtown LA
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