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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

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.

Contact the Listing Team

Jason Tuvia

Jason Tuvia

Senior Managing Director Investments

42 closed

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Josh Yeager

Josh Yeager

Senior Director Multifamily Investment

9 closed

Call

Send a Message

Jason Tuvia

Jason Tuvia

Senior Managing Director Investments

42 closed

Call
Josh Yeager

Josh Yeager

Senior Director Multifamily Investment

9 closed

Call