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343 S Occidental Blvd Los Angeles, CA 90057
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Key Details
Sold Price $2,660,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 10,218 sqft
Price per Sqft $260
MLS Listing ID 24-406887
Sold Date 03/21/25
Year Built 1949
Lot Size 0.281 Acres
Acres 0.2812
Property Sub-Type Multi-Family
Property Description
18 unit low rise garden style apartment building for sale with tremendous upside of 53% to peak proforma in one of the few remaining pockets in Los Angeles that hasn't seen big growth...yet. A short drive off the 101 and the Silver Lake Blvd exit is 343 S Occidental Blvd. The location is Silver Lake a few blocks to the north and Koreatown a few blocks to the east. 10 of the units are one bed one bath, 8 are studios. Rents were last raised February 2024. Current rents are $18,936/mo ($227,236/yr). Highest 1 bed unit is $1700/mo. Highest studio is $1500/mo. February 2025 rents at 4% increase is 12.5 GRM and about a 5.4 cap. Proforma rents indicate $29,000/mo or ($348,000/yr) at 8.2 GRM. All units are occupied and rents are current. Laundry is on site. There are 13 parking spaces with the potential to add more. Soft story retrofit completed in 2019.
Location
State CA
County Los Angeles
Area Downtown L.A.
Zoning LAR4
Rooms
Other Rooms Other
Interior
Heating Wall
Cooling Wall Unit(s)
Equipment Garbage Disposal
Exterior
Parking Features Carport, Parking Space, Uncovered
Garage Spaces 13.0
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard
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Bought with Joshua Nouri