$ 3,775,000
-
$3,775,000
Price -
9,311
SqFt -
0.23
Acre
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About the Listing 51156 - C15646,CV49103
Rare opportunity to acquire a substantial multifamily investment property in the highly desirable Mid-City/Harvard Heights area of Los Angeles. The property features 17 units on an approximately 10,018-square-foot lot, offering investors a sizable existing rental asset with meaningful value-add potential. The property includes 14 existing units plus 3 attached ADUs, providing an attractive opportunity to enhance the income-producing potential of the property. Five units have been fully remodeled with permitted improvements, including updated kitchens, modern cabinetry, flooring, lighting, bathrooms, and other interior and exterior enhancements. The property benefits from individually metered gas and electricity, gated parking, and a well-positioned two-story configuration. The approximately 9311-sq ft building sits within a commercially zoned area for both multi-family and retail. It offers investors multiple avenues to improve operations, rents, and overall property performance, subject to applicable approvals and regulations. This property maintains an approximate cap rate of 6.14% from Day 1, with upside to a pro Forma rate of 10.48%. Strategically located along Venice Boulevard with convenient access to Koreatown, Downtown Los Angeles, Culver City, major employment centers, public transportation, and regional freeways. This is a compelling opportunity for investors seeking an established multifamily asset in central Los Angeles, with existing improvements and upside potential.
Listing Highlights for 1639 S Hobart
Interior Details
- Appliances:
- Air Cond: Wall/Window Unit(s)
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: 0-1 Unit/Acre,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 10
- Zoning: C1-1VL-HPOZ-CPIO
- Roof: Shingle
- Others: Drywall,Concrete,Stucco,2+ Total Units
- Sewer:
Financial Details
- Tax Amount: $42,260
- Taxes w/Assessments: N/A
- Tax/Property ID: 5074018025
- Tax Year: 2025
Payment Calculator
Monthly Payment
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- in Taxes
Listing Location
Questions About..
1639 S Hobart Los Angeles, CA 90006
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