Alexandria Avenue, Los Angeles, CA 90004

Building Details

Year Built

1971

Listing agent NEEMA AHADIAN License #CA:01346750

Listing office MARCUS & MILLICHAP n***@marcusmillichap.com Show Phone

Listing date Jun 5, 2025

Source Corcoran

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Overview

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.

Map

City

Los Angeles

County

Los Angeles

State

California

Longitude

-118.298

Latitude

34.0743

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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 Avenue 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.