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248 S Hobart Los Angeles, CA 90004
7,359 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 7,359 sqft
Price per Sqft $244
MLS Listing ID CRPW25219562
HOA Y/N No
Year Built 1928
Lot Size 10,189 Sqft
Acres 0.23
Property Sub-Type Comm Ind For Sale
Property Description
Welcome to 248 S Hobart Blvd, an exceptional 8-unit apartment building located in the heart of Koreatown, one of Los Angeles’ most vibrant and high-demand rental markets. Built in 1928, this charming property offers a vintage aesthetic while benefiting from recent upgrades, including a new roof (2020), exterior paint and patching (2020), and updated electrical systems (2022–2023). The building consists of eight spacious 2-bedroom, 1.25-bath units, each approximately 920 sq. ft., spread across two floors. All units are separately metered, providing operational efficiency. Current rents are significantly below market, offering substantial upside potential as units turn over. Pro forma rents project income growth to over $17,600 per month, supporting a pro forma cap rate of 6.64%. Situated on a 10,386 sq. ft. lot with R3-1 zoning, the property totals 7,359 sq. ft. of building space. Residents enjoy easy access to local amenities including renowned restaurants, shopping, markets, schools, and public transit—just blocks from the Metro Red and Purple lines. The property’s walkable location, one block off Western Avenue, makes it highly desirable for tenants seeking convenience and connectivity. Ideal opportunity for investors seeking stable cash flow, low vacancy, and strong lo
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling Window Unit(s)
Fireplace No
Exterior
Utilities Available Other
Building
New Construction No
Others
Tax ID 5517014017
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Listed by Jacob Choi • Real Broker