742 Irolo Street presents an exceptional opportunity to acquire an 8-unit multifamily property in the heart of Koreatown, one of Los Angeles' most vibrant and high-demand rental submarkets. The property features a well-balanced mix of seven (1-bed / 1-bath) units and one (2-bed / 1-bath) unit, totaling 5,607 square feet… Read More of living space on a 6,762 square foot LAR4-zoned lot. Operating at a 4.6% cap rate and 13.18 GRM, the building offers investors a healthy in-place return with the potential for continued rent growth over time. The LAR4 zoning allows for future redevelopment possibilities, providing flexibility for both long-term hold and value-add investors seeking to capitalize on the strong fundamentals of the Koreatown market. The property is centrally located just moments from Wilshire Boulevard, 8th St, and the Wilshire/Normandie Metro Station, offering excellent access to Downtown Los Angeles, Hollywood, and the greater LA area. With an exceptional Walk Score, residents enjoy immediate proximity to Koreatown's most popular dining, nightlife, and retail destinations including The Line Hotel, H Mart, Chapman Plaza, and numerous trendy cafes and entertainment venues. 742 Irolo Street represents a rare opportunity to acquire a stabilized asset with consistent cash flow, upside potential, and irreplaceable location fundamentals. Whether you are a seasoned investor expanding your Los Angeles portfolio or a first-time buyer entering the multifamily market, this Koreatown property offers a compelling blend of income stability and long-term appreciation. Read Less
Property listed by Keller Williams Los Angeles, Stephen F. Watson 562-334-1500
Listing Snapshot
Days Online
0
Last Updated
Property Type
Other
Beds
8
Square Ft.
5,607
Lot Size
0.16 Acres
Year Built
1954
MLS Number
25609475
30 Days Snapshot Of 90005
$2.91M
+274%
(avg) sold price
4
+33%
homes sold
71
-44%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1954, Building area total: 5,607, Levels: Two, Living area: 5607, 2 stories, 1 building
Cooling
WallWindowUnits
Heating
WallFurnace
Income
Gross income: $144,131, Net operating income: $87,731
Lot
0.1552 acres, 6,762 square feet, Size: 6,762
Parking
7 totals parking, Carport
Property
Zoning: LAR4
Tenant Pays
CableTv, Electricity, Gas
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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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