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    Alexandria Ave Los Angeles, CA 90004

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    For Sale
    $10,380,000

    54-unit apartment building in Koreatown with significant rental upside.

    Property size:
    36,012 SF
    Lot size:
    0.55 Acres

    Property Features for Alexandria Ave

    General Information

    Standard status
    Active
    Size
    36,012 SF
    Lot size
    0.55 Acres

    Building Details

    Year built
    1971

    Source: MARCUS & MILLICHAP Agent NEEMA AHADIAN

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Koreatown Apartments: Value-Add Opportunity

    The Orleans Apartments present a 54-unit investment opportunity in Koreatown, situated east of Normandie Avenue and south of Beverly Boulevard. The property features 54 one-bedroom units and 57 subterranean parking spaces. Five units will be delivered vacant at the close of escrow. This is a value-add opportunity with a potential 40% rental upside achievable as units turn. The units are well-maintained and can be enhanced to capture premium rents through a renovation program that includes luxury vinyl plank flooring, stainless steel appliances, custom cabinetry and countertops, smoothed ceilings and light fixtures, and HVAC. Exterior upgrades could include paint and common area improvements. Third-floor units feature balconies, and all appliances are electric. There are two laundry rooms on the third and fourth floors, each equipped with three washers and three dryers leased with Wash. The property is located in one of the strongest rental submarkets in Los Angeles, with continued year-over-year rent growth. The location has a high Walk Score of 87 and is in close proximity to schools, employment, and transit options, making it convenient for residents.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.298116
    Latitude
    34.074326

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    FAQs

    What type of property is this?
    Apartment building - 54-unit apartment building in Koreatown with significant rental upside.
    Where is this apartment building located?
    The property is located at Alexandria Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $10,380,000.
    What are key features of this property?
    This property features: - Value-add opportunity with **40% rental upside** achievable through unit renovations.; - Prime Koreatown location in a strong rental submarket with continued rent growth.; - **54-unit apartment building**, a sizeable asset.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Alexandria Ave Los Angeles, CA 90004
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