236 Vendome StLos Angeles, CA 90057

This 8-unit apartment building, located at 236 S Vendome St, Los Angeles, CA 90057, presents a compelling value-add investment opportunity. The property, built in 1916, comprises 8,500 square feet on a 13,200 square foot lot and features a mix of two 1-bedroom/1-bathroom and six 2-bedroom/1-bathroom units, totaling 8 units with 100% occupancy. The current NOI is $89,530, with a pro-forma NOI of $101,405, resulting in a 4.09% cap rate and a pro-forma cap rate of 4.63%. The asking price is $2,190,000, or $273,750 per unit, and $257.65 per square foot. The property includes 11 parking spaces and is zoned RD1.5-1, allowing for potential densification through ADU development or density bonus incentives. Its prime location in Koreatown offers excellent access to cultural attractions, dining, and major freeways (I-10, 110, and 101), as well as proximity to Hollywood Burbank Airport, LAX, and the Ports of Los Angeles and Long Beach. This historic building, with its classic Los Angeles architecture, offers a unique chance to enhance a property with significant upside potential in a thriving urban market. The property is not subject to a ground lease.