Property Tour/Inspection – Thursday December | 1103 S Hobart Blvd
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Property Tour/Inspection – Thursday December 1103 S Hobart Blvd
4 Unit Block of Flats £865,061 (£216,265/Unit) 6.96% Net Initial Yield Los Angeles, CA 90006
Investment Highlights
- Lender Owned Investment Opportunity
- Ideal Koreatown Location
- Redevelopment Potential with TOC Tier 3 Designation
- Value Add Opportunity
- Great Owner-User Opportunity
Executive Summary
Lee & Associates Apartment Advisors is proud to present Hobart Apartments, a Lender Owned investment opportunity located at 1103 S. Hobart Blvd, Los Angeles, CA. The offering is a four unit property located in the Koreatown district of Los Angeles. The property is comprised of three x two bedroom/one bath, and one x three bedroom/one and three-quarter bath apartments. The three bedroom apartment is ideal for an owner-user. The property was constructed in 1962 and is subject to the city of Los Angeles Rental Stabilization Ordinance. The ±3,303 SF property is situated on a ±6,214 corner parcel. The property is individually metered for gas and electricity. Additionally, the property has individual water heaters. Currently, there are three occupancies; with one occupant in eviction. Recent capital improvements include newer windows, and mini-split air conditioning systems.
The property is zoned R3 and is in a Transit Oriented Community Tier 3 density bonus area. This provides a developer incentives which allows for increased density of 70% of the by right unit allocation.
The offering is an ideal opportunity for an investor to acquire a value add asset at a discount in an ideal central Koreatown location with strong tenant demand.
The property is zoned R3 and is in a Transit Oriented Community Tier 3 density bonus area. This provides a developer incentives which allows for increased density of 70% of the by right unit allocation.
The offering is an ideal opportunity for an investor to acquire a value add asset at a discount in an ideal central Koreatown location with strong tenant demand.
Property Facts
| Price | £865,061 | Apartment Style | Low Rise |
| Price Per Unit | £216,265 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 3,303 SF |
| Net Initial Yield | 6.96% | Number of Floors | 2 |
| No. Units | 4 | Year Built | 1962 |
| Property Type | Residential | Parking Ratio | 1.82/1,000 SF |
| Property Subtype | Apartment |
| Price | £865,061 |
| Price Per Unit | £216,265 |
| Sale Type | Investment |
| Net Initial Yield | 6.96% |
| No. Units | 4 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.14 AC |
| Building Size | 3,303 SF |
| Number of Floors | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.82/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
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Walk Score ®
Walker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 5080-018-012 | Improvements Assessment | £256,348 |
| Land Assessment | £598,151 | Total Assessment | £854,499 |
PROPERTY TAXES
Parcel Number
5080-018-012
Land Assessment
£598,151
Improvements Assessment
£256,348
Total Assessment
£854,499
zoning
| Zoning Code | LAR3 |
| LAR3 |
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Robert Leveen -
Jamie Harrison -
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Property Tour/Inspection – Thursday December | 1103 S Hobart Blvd
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