With excellent visibility on the corner of Olympic Boulevard and Grand View Street, the property sits only one mile from LA Live, Los Angeles' sprawling 5.6 million square foot sports and entertainment complex that was constructed for approximately $2.5 billion in recent years. With LA Live and the neighboring Crypto.com… Read More Arena, Los Angeles Convention Center, and nearby Los Angeles Coliseum scheduled to host events in the 2028 Summer Olympics, the entire local area stands to benefit from upcoming infrastructure improvements and an influx of capital to the area. Available at a 7.23% CAP Rate and 7.23 GRM based on current income, the property allows an investor the opportunity to potentially recapture approximately 48% in rent upside. Attractively priced when compared to similar recent sales, the building is being offered for less than $181 per square foot and only $112,826 per unit. Because the building is not on the Los Angeles Department of Building and Safety's seismic retrofit list, a new owner can save significant funds from otherwise costly seismic repairs (Buyer to verify). Situated near the intersection of Olympic Boulevard and Hoover Street, the property offers tenants proximity to the ample job centers throughout Downtown Los Angeles, Koreatown, and the nearby University of Southern California. Residents also enjoy convenient access to the 110, 10, and 101 Freeways, while the Metro B Line and D Line subways, along with several Metro bus stops, are all within blocks of the property. Read Less
Property listed by Marcus & Millichap, Roderick 'Rick' Raymundo 818-212-2700
Listing Snapshot
Days Online
87
Last Updated
Property Type
Other
Beds
4
Square Ft.
14,340
Lot Size
0.13 Acres
Year Built
1922
MLS Number
25562967
30 Days Snapshot Of 90006
$672k
-21%
(avg) sold price
10
+233%
homes sold
72
-7%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1922, Building area total: 14,340, Levels: MultiSplit, Living area: 14340, 1 building
Income
Gross income: $359,112, Net operating income: $187,536
Lot
0.1309 acres, 5,700 square feet, Size: 5,700
Parking
Assigned
Property
Zoning: LAC4
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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