Highest Upside Apartment Building in all Koreatown

Highlights:

• Tremendous Upside
• Extremely Low Price Per Unit
• Prime Koreatown
• Soft Story Complete

Description:

NO BUILDING IN KOREATOWN HAS MORE UPSIDE!



Located at the intersection of Normandie and 6th, just one block from

the iconic Quarters KBBQ, this 12-unit apartment building offers an

exceptional opportunity to acquire a value-add asset in one of Los

Angeles’ most vibrant and high-demand rental markets. The property

consists of one bachelor, three singles, and eight one-bedroom units—

only one of which has been renovated in the past 30 years, (light

touch up in others) making it a perfect candidate for a comprehensive

renovation strategy. This provides a clear path to capturing substantial

upside through targeted unit upgrades and improved management.



The building also features a garage at the front, which could be

considered for future ADU conversion, as well as a rear parking area and

an on-site laundry room with owner-owned washer/dryers, providing

additional income. The property benefits from a charming side garden

that is well-maintained by tenants, enhancing the building’s curb appeal

and offering a welcoming environment.



Despite a current in-place cap rate of just 3.73%, the property’s pro

forma cap rate exceeds 10.5%, even under conservative underwriting

assumptions. This significant upside potential makes it a rare find in

today’s market, with the ability to create substantial value and unlock

a high return on investment. With the location, strong rental demand,

and numerous avenues for growth, this Koreatown asset offers a rare

opportunity to reposition

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