We are pleased to offer for sale a 12-unit apartment community located at 1247 West 8th Street. The subject property is situated west of the 110 Freeway and south of Wilshire Boulevard. Positioned on a 5,508-square-foot parcel, the property is comprised of four studios and eight one-bedroom units and is… Read More being offered at an attractive basis of 7.98 GRM and $120,833 per unit, with 24% remaining rental upside through unit renovations. The property is in close proximity to multiple venues for the 2028 Summer Olympics, including the LA Memorial Coliseum, Crypto.com Arena, and BMO Stadium, which bode well for the long-term prospects of the neighborhood.1247 West 8th Street offers investors a compelling opportunity to acquire an asset with a strong value-add component and to capitalize on the continued westward expansion and revitalization of the Downtown submarket. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. Read Less
Property listed by Marcus & Millichap, Sean Rosenzweig 310-259-7556
Listing Snapshot
Days Online
175
Last Updated
Beds
8
Square Ft.
6,762
Lot Size
0.13 Acres
Year Built
1910
MLS Number
25601441
Additional Details
Building
Built in 1910, Living area: 6762.0, 1 building, 2 stories, Levels: Two
Income
Gross Income: $181,793, Net Operating Income: $81,824
Lot
0.1264 acres
Parking
None
Taxes
Parcel Number: 5143011012, Zoning: LACW
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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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