24-Unit Studio Apartment
747 S New Hampshire Ave, Los Angeles, CA 90005
For Sale
$2,900,000
Renovated apartments and building upgrades complement access to the Wilshire/Vermont Metro Station.
Property Size14,188 SF
Days on Market52
Property Features for 747 S New Hampshire Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Building Details
Building Size
Year Built
Listing Agency:
JNM Realty, INC.
Listed By:
Demis Dokhanian · License CA #01940496
(310) 270-6616
Source:
Rochellemaize
Added: Sep 25
Changed: Nov 13
Last Checked: Nov 14 at 1:49PM
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 JNM Realty, INC.
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Investment Insights
Based on property information with market context.
This 24-unit apartment property contains studio residences averaging approximately 550 square feet, within 14,188 square feet of building area. Built in 1921, it includes renovated units with copper plumbing, upgraded electrical systems, stainless steel appliances, new flooring and updated kitchens. Twelve units have not been renovated. The building was re-stuccoed in 2013, its windows were replaced in 2018, and roof upgrades and maintenance were completed in 2026.
The property is in Koreatown, less than 0.5 miles from the Wilshire/Vermont Metro Station, a 10-minute walk away.
The property is in Koreatown, less than 0.5 miles from the Wilshire/Vermont Metro Station, a 10-minute walk away.
Key Highlights
- 24 studio units averaging approximately 550 square feet
- 12 units have not been renovated
- 14,188 square feet of building area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$228,296
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,565,920
$4.6M
Cap Rate 7%
$3,261,371
$3.3M
Cap Rate 9%
$2,536,622
$2.5M
Market Conditions
NOI Build-Up for 14,188 SF
Gross rent
$451.2K $31.80/SF
− Vacancy
−$36.1K −$2.54/SF
EGI
$415.1K $29.26/SF
− OpEx
−$186.8K −$13.17/SF
NOI
$228.3K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,565,920
Cap Rate 7%
$3,261,371
Cap Rate 9%
$2,536,622
Alternative Uses
Best Use
Apartment 5plus
$3.26M
$2.85M – $3.80M
NOI $228,296 @ 7.0% cap · market cap 7.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.92M
$5.18M – $6.91M
NOI $414,656 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
8,787
Businesses Nearby
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Business Placement
Demographics for 90005, CA
37,987
Population
19,357
Households
2
Avg Household Size
37
Median Age
38%
College-Educated
74%
High-School Grad
1.2 sq mi
ZIP Area
31,656
Density / Sq Mi
$52,755
Median Household Income
$35,847
Median Earnings
$1,648
Median Rent
$1,084,400
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles, CA
Properties on Market for Apartment buildings in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated apartments and building upgrades complement access to the Wilshire/Vermont Metro Station.
Where is this apartment building located?
The property is located at 747 S New Hampshire Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 24 studio units averaging approximately 550 square feet; 12 units have not been renovated; 14,188 square feet of building area
