839 S Wilton Place,Los Angeles, CA 90005
Los Angeles, CA 90005
Description
We are pleased to present an exceptional 40-unit investment opportunity at 839 S Wilton Pl in the heart of Koreatown. Situated just south of W 8th St, this well-maintained property offers a compelling mix of 25 singles and 15 one-bedrooms, providing a stable income stream with additional upside potential. Offered at $195 per square foot with a 6.32% cap rate and 8.29 GRM on current income, this property presents an attractive investment profile. There is further value-add potential with the opportunity to develop one or two Accessory Dwelling Units (ADUs) in the basement (buyer to verify).The building is separately metered for electricity and features an on-site community laundry room leased with Wash, equipped with four washers and five dryers. Security cameras throughout the property enhance tenant security and operational efficiency. Located on the west side of Koreatown, the property benefits from proximity to Wilshire Park and is a short drive to Larchmont Village and Hancock Park. It boasts a high walk score of 87 and is within a half mile of the Metro D Line rail station and multiple Metro local lines along S Western Ave. The property is also walking distance to major retail destinations, including Koreatown Plaza, Western Plaza, and Koreatown Galleria. Koreatown is one of Los Angeles' most vibrant and densely populated neighborhoods, home to approximately 120,000 residents. Since the early 2000s, an estimated $1 billion has been invested in Koreatown's development, reinforcing its status as one of the city's most sought-after submarkets. This offering represents a rare opportunity to acquire a well-positioned asset with stable income and significant value-add potential in one of Los Angeles' most dynamic neighborhoods.
Details
| MLS# | 25517403 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1928 |
| Days On Site | 30 |
| Listing Provided By | Marcus & Millichap 310-909-5500 | Neema Ahadian |
Features
| Bed(s) | 15 |
|---|---|
| Bath(s) | 40 |
| SQ Feet | 27,118 |
| Story(s) | 4 |
| Units | 40 |
| Building(s) | 1 |
| Zoning | LAR3 |
| Acreage | 0.21 |
Market Activity 90005
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90005 |
| Area | C18 Hancock Park Wilshire |
| Listing VS Median (in 90005) | |
Price: $5,300,000 low | high Med: $9,315 SqFt: 27,118 low | high Med: 3,037 $ / SqFt: $195 low | high Med: $3 On site: 30 low | high Med: 47.000000 | |