SRO Apartment Building with
1214 W 8th St Los Angeles, CA 90017
1214 W 8th St, Los Angeles, CA, 90017
$3,685,000
For Sale
$3,685,000
37-unit SRO building with lobby, leasing office, basement storage, and ground-floor mini market.
Property Size12,936 SF
Price / SF$284.86
Days on Market20
Property Features for 1214 W 8th St
General Information
- Standard status
- Active
- Size
- 12,936 SF
- Property subtype
- Multifamily
Listing agency
Marcus & Millichap
(310) 909-5444
Listed by
Neema Ahadian · License #License(s): CA: 01346750
(310) 909-5444
Source
Marcusmillichap
Added: Jul 3 Updated: Jul 22 at 6:31AM Checked: Jul 22 at 6:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap
Investment Insights
Based on property information with market context.
This 37-unit SRO apartment building was originally built in 1923 as a 39-room hotel and converted to residential use in 2010. At conversion, the property received new tile flooring, doors, sinks and faucets, fresh paint, smoke detectors, and a security system. The unit mix includes 21 SRO units with shared bathrooms and 16 SRO units with private en-suite bathrooms. Each floor is served by two bathrooms and two shower rooms for shared-bathroom tenants. Building amenities include a large lobby, a ground-floor leasing office, and basement storage area (approximately one quarter the size of the building footprint, not reflected in the recorded square footage).
The property is located along a primary connector between Downtown LA and surrounding neighborhoods, with immediate freeway access and a 100 TransitScore. The ground-floor includes one retail space along 8th Street currently occupied by a mini market, and the revenue profile is further supported by a large billboard with direct 8th Street frontage.
The property is located along a primary connector between Downtown LA and surrounding neighborhoods, with immediate freeway access and a 100 TransitScore. The ground-floor includes one retail space along 8th Street currently occupied by a mini market, and the revenue profile is further supported by a large billboard with direct 8th Street frontage.
Key Highlights
- 37‑unit SRO apartment building at 1214 W 8th Street in Los Angeles’ Westlake submarket
- Built in 1923 as a 39‑room hotel; converted to residential in 2010 with new tile flooring, doors, sinks/faucets, paint, smoke detectors, and security system
- Unit mix includes 21 SRO units with shared bathrooms and 16 SRO units with private en‑suite bathrooms
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $478.1k | $36.96 |
| − Vacancy | −$49.2k | −$3.81 |
| EGI | $428.9k | $33.15 |
| − OpEx | −$128.7k | −$9.95 |
| NOI | $300.2k | $23.21 |
12,936 SF · lease $36.96/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$228.70M
$200.11M – $266.82M
NOI $16,008,999 @ 7.0% cap · market cap 434.44%
Second Best
Retail
$4.29M
$3.75M – $5.00M
NOI $300,208 @ 7.0% cap · market cap 8.15%
Theoretical Best
Multifamily LT 5
$262.08M
$229.32M – $305.75M
NOI $18,345,292 @ 7.0% cap · market cap 497.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 37-unit SRO building with lobby, leasing office, basement storage, and ground-floor mini market.
Where is this apartment building located?
The property is located at 1214 W 8th St Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,685,000.
What are key features of this property?
This property features: 37‑unit SRO apartment building at 1214 W 8th Street in Los Angeles’ Westlake submarket; Built in 1923 as a 39‑room hotel; converted to residential in 2010 with new tile flooring, doors, sinks/faucets, paint, smoke detectors, and security system; Unit mix includes 21 SRO units with shared bathrooms and 16 SRO units with private en‑suite bathrooms
