343 S Occidental Boulevard
Los Angeles, CA 90057
10218 sqft | 0.28 acres | #24406887
Description
18 unit low rise garden style apartment building for sale with tremendous upside of 53% to peak proforma in one of the few remaining pockets in Los Angeles that hasn't seen big growth...yet. A short drive off the 101 and the Silver Lake Blvd exit is 343 S Occidental Blvd. The location is Silver Lake a few blocks to the north and Koreatown a few blocks to the east. 10 of the units are one bed one bath, 8 are studios. Rents were last raised February 2024. Current rents are $18,936/mo ($227,236/yr). Highest 1 bed unit is $1700/mo. Highest studio is $1500/mo. February 2025 rents at 4% increase gets to a 4.8 cap & 13.5 GRM. Proforma rents indicate $29,000/mo or ($348,000/yr) at 8.3 cap & 9.2 GRM. All units are occupied and rents are current. Laundry is on site. There are 13 parking spaces with the potential to add more. Soft story retrofit completed in 2019.
Property Details
- Stories2
Measurements
- Acres0.2811
- Square Feet10218
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1949
Community and Neighborhood Details
- CountyLos Angeles
Financial Details
- Original List Price$3,198,000
Other
- MLS #24406887
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Aram Gaboudian (#CLW-C123695)
Listing Office: Keller Williams Downtown LA (#CLW-X80707)
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