For Sale
$1,799,800

428 Harvard BlvdLos Angeles, CA 90004

Newly renovated 3-unit apartment building

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional Koreatown investment opportunity presents a newly renovated (2022) three-unit apartment building, boasting 3,303 square feet of living space on a 5,972 square foot lot. The property, originally built in 1915 and completely renovated, features a mix of one, two, and three-bedroom units, all currently 100% occupied with market-rate tenants. Each unit includes modern amenities such as stainless steel appliances, designer bathrooms with oversized showers, in-unit washer/dryers, and hardwood flooring. The building offers a strong NOI of $75,699, resulting in a 4.21% cap rate and a price per square foot of $544.90. Located in a prime location, just steps from the Wiltern Theatre and numerous shops and entertainment venues, this property benefits from a Walk Score of 97 and is a short drive to Larchmont Village, Paramount Studios, and Netflix headquarters. The property is situated in a high-demand rental market, further enhanced by the proximity to the Purple Line station. The permitted zoning is LAR3. This stabilized asset presents a compelling opportunity for investors seeking a worry-free 1031 exchange opportunity or a strong, cash-flowing investment in a vibrant Los Angeles neighborhood. The address is 428 N Harvard Blvd, Los Angeles, CA 90004, with APN 5521-024-005. The asking price is $1,799,800, representing a price per unit of $599,933.33. All units are separately metered.

Highlights

  • Spacious units with substantial square footage.
  • 100% occupied with market-rate tenants.
  • Ideal for a 1031 exchange.
  • Completely renovated 3-unit building.
  • $544.90 price per square foot.
  • All units separately metered.

Property Details for 428 Harvard Blvd

Property type
Apartment buildings
Square Feet
3,303 SF
Year Built/Renovated
1915/2022
Buildings
2
Stories
1
Units
3

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.078553192862
Longitude
-118.30461041104
428 Harvard Blvd, Los Angeles, California

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428 Harvard Blvd
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