We are pleased to present a twelve (12) unit apartment building located at 1247 W 8th St in Los Angeles, California. The subject property is located in a solid Westlake location, north of Olympic Blvd and west of Union Ave. Located in the Westlake neighborhood adjacent to Downtown Los Angeles,… Read More 1247 W 8th St features a solid unit mix of four studio units and eight one-bedroom units, with one unit delivered vacant and approximately 30% rental upside potential. The asset is separately metered for gas and electricity, features new electric panels, and operates as a strong cashflow investment at approximately 170 basis points above current debt. Residents benefit from immediate access to the 110 Freeway, Metro A and B Lines, major commercial corridors, and nearby amenities including MacArthur Park, LA Live, Crypto.com Arena, dining destinations, entertainment venues, grocery options, and nightlife throughout Downtown Los Angeles and surrounding neighborhoods. With its central Westlake location, solid unit mix, immediate transit and freeway access, one vacant unit, and solid rental upside potential, the property offers investors a compelling opportunity to capitalize on long-term multifamily demand near Downtown Los Angeles. Read Less
Property listed by Marcus & Millichap, Kian Maronde 310-259-7556
Listing Snapshot
Days Online
28
Last Updated
Beds
8
Square Ft.
6,762
Lot Size
0.13 Acres
Year Built
1910
MLS Number
26838607
Additional Details
Building
Built in 1910, Living area: 6762.0, 1 building, Levels: Two
Income
Gross Income: $192,512, Net Operating Income: $103,986
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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