756 New Hampshire AveLos Angeles, CA 90005

Property Details for 756 New Hampshire Ave

Year built

1987

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

7,502 SF

Zone code

LAR4

Property type

Apartment buildings

APN

5094-011-010

APU

5094011010

Description

This 14-unit apartment building, constructed in 1987, is situated on a 7,250 square foot lot in the heart of Los Angeles' Koreatown. The property boasts 7,502 square feet of net rentable space, offering a mix of studio and one-bedroom units. With a current NOI of $193,323 and a pro-forma NOI of $240,762, it presents a compelling investment opportunity with a 5.69% cap rate and a pro-forma cap rate of 7.08%. The asking price is $3,400,000, translating to $242,857 per unit. Benefiting from its pre-1995 construction, the property is not subject to Los Angeles City Rent Control, but is subject to AB 1482 State Rent Control, allowing for higher annual rental increases. The building features 14 parking spaces with gated access and an on-site laundry facility. Its prime location offers residents easy access to a variety of amenities, including restaurants, cafes, bars, grocery stores, gyms, and entertainment venues. The property is zoned LAR4 and enjoys a Walk Score of 96, making it a highly desirable location. Furthermore, its location within a designated Opportunity Zone may offer potential tax advantages. This well-maintained property presents a rare chance to acquire a multifamily asset in a thriving Koreatown neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $2,743,834

  6.5%

  $2,532,769

  7%

  $2,351,857

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,211,200

  Geo Method

  $2,211,200

• Alternative Use

  Use

  Valuation

  Residential

  $2,532,769

  Hospitality

  $2,320,003

  Educational

  $1,930,215

  Medical

  $1,996,598

  Retail

  $3,002,557

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0582

Longitude

-118.293

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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