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$ 3,200,000
Est. payment /mo
New
747 S New Hampshire AVE Los Angeles, CA 90005
24 Baths
14,188 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 14,188 sqft
Price per Sqft $225
MLS Listing ID 26993065
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1921
Lot Size 0.261 Acres
Property Description
747 S New Hampshire Ave is a twenty-four (24) unit apartment property consisting entirely of spacious Studio units averaging approximately 550 square feet. The property is located in the heart of Koreatown, less than 0.5 miles and a 10-minute walk from the Wilshire/Vermont Metro Station. During the current owner's 10+ year tenure, the property has been well maintained and improved. Renovated units feature copper plumbing, upgraded electrical, stainless steel appliances, new flooring, and updated kitchens. The property was re-stuccoed in 2013, all windows were replaced in 2018, and over $30,000 was spent on roof upgrades and maintenance in 2026.The investment offers an astounding 7.12% going-in cap rate and a low $133k/unit entry price point with 46.35% upside potential in the twelve (12) non-renovated units. With the proper financing, an investor can achieve a 9.20% cash-on-cash return with potential upside to an 8.71% cap rate and 13.73% cash-on-cash return. JNM Realty manages 3,500 units across Los Angeles and Orange County and is available to manage the property for an investor.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features None
Community Features Gated
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 5094010007
Security Features Gated Community,Key Card Entry
Special Listing Condition Standard
Listed by Demis Dokhanian JNM Realty, INC. #01940496