Located in one of Koreatown's most desirable pockets, 538 S Oxford Avenue presents a rare chance to acquire a high performing asset with substantial upside in one of Los Angeles's most dynamic rental markets. This 24-unit building sits just moments from the area's top dining, retail, and transportation amenities, making… Read More it a highly coveted address that consistently attracts strong tenant demand. Constructed in 1966, the property features an efficient and highly leasable unit mix of (3) Singles and (21) One-bedroom apartment homes, totaling approximately 17,280 SF of improvements. The building is fully parked, an increasingly hard-to-find advantage in Koreatown that provides added convenience for residents while enhancing long-term value for ownership. Priced at $4,950,000, the offering equates to an attractive $206,000 per unit and a price per square foot well below replacement cost, creating a compelling basis in a core LA location. The asset also delivers an impressive 5.08% cap rate on actual income, with a clear path to nearly 10% cap rate at market rents. This combination of low entry basis and extraordinary rent upside is seldom seen in today's market. Well-located, well-parked, and primed for repositioning, 538 S Oxford checks every box for value-add investors. With Koreatown's continued growth and very limited availability of similar assets, this is the kind of deal that does not come around often. Read Less
Property listed by Keller Williams Beverly Hills, Shaya Braverman 310-432-6400
Listing Snapshot
Days Online
21
Last Updated
Square Ft.
17,280
Lot Size
0.21 Acres
Year Built
1966
MLS Number
26640663
Additional Details
Building
Built in 1966, 1 building, 2 stories
Home Owner's Association
Association Fee: $0
Income
Net Operating Income: $251,308
Lot
0.2068 acres
Parking
23 total parking spaces
Taxes
Parcel Number: 5503020004, Zoning: LAR4
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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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