FOR SALE
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$1,595,000
2625 San Marino Street, Los Angeles, CA 90006
4,680 SF
Square Feet
$341
PPSF
4
Units
300.0K
PPU
5.80%
CAP
Property Description
Units
4 — PPU: 300.0K
NOI
$92,435
Cap Rate
5.80%
Marcus and Millichap is pleased to present a four (4) unit apartment building located at 2625 San Marino Street in Los
Angeles, California. The subject property is situated in an ideal Koreatown location, west of S Hoover St and north of W
Olympic Boulevard.
The highly desirable area of Koreatown is a rapidly developing submarket with abundant dining and entertainment options. Considered an epicenter of jobs and amenities, residents in this area enjoy convenient access to nearly one million jobs and 138 million square feet of office space. This submarket is also recognized as a premier dining and nightlife hub. With a walk score of 95, Koreatown is walkable and transit-oriented, allowing residents to capitalize on in influx of new development and to utilize the Metro Purple and Red Lines when needing to commute. The building is right down the street from trendy Koreatown retail, restaurant, and entertainment amenities. Tenants will love being within walking distance to these amenities, as well as living near outdoor recreation at MacArthur Park. Continued development surrounds the property, demonstarting the strength of the area.
Built in 1916, this property of a streamlined unit mix of four (4) two-bedroom / one-bathroom units. All four (4) units will
be delivered vacant. The units are very spacious averaging over 1,150 square feet each and include washer and dryer
hookups. Senate Bill 1211, which recently was signed by the governor, allows for the potential to double the unit count
by converting the carports located in the bac k of the property into individual ADU unit(s). This asset also boasts e asily
maintained landscaping with lovely curb appeal. The surrounding area also features many other wonderful amenities
including MacArthur Park, Coffee MCO, Langer’s Delicatessen Restaurant, The Bellwether, and Dynasty Typewriter. This
property is also located onl y a few blocks from the Westlake/ MacArthur Metro Line providing tenants immediate access to
major employment hubs throughout Los Angeles.
Situated in an ideal Koreatown location, this offering presents an excellent opportunity for any investor to capitalize on a completely vacant building with the potential to double the unit
count.
Property Details
Asset Type
MultiFamily
Year Built
1916
Zoning
LAR4-1
Lot Size
6,750 SF
Neighborhood
Koreatown
Submarket
Los Angeles
ZIP
90006
Listing Type
sale
30 years
10 years
Net Operating Income (NOI)
$146,648
Debt Service Coverage Ratio (DSCR)
1.62x
Cap Rate
9.19%
Cash Flow (Annual)
$55,914
Cash-on-Cash Return
14.02%
Monthly Debt Service
$7,561
Annual Debt Service
$90,733
View on Map
Address
2625 San Marino Street
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Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.