1145 New Hampshire AveLos Angeles, CA 90006

Property Details for 1145 New Hampshire Ave

Year built

1929

Construction

WOOD

Lot size

0.12 AC

Property size (Sq ft)

6,710 SF

Zone code

LAR4

Property type

Apartment buildings

APN

5078-026-012

APU

5078026012

Description

This exceptional 12-unit apartment building, located at 1145 S New Hampshire Ave in Los Angeles' desirable Koreatown neighborhood (zip code 90006), presents a compelling value-add investment opportunity. Built in 1929 and extensively renovated in 2017, this two-story building boasts 6,710 rentable square feet situated on a 5,665 sq ft lot (APN: 5078-026-012). The unit mix comprises eight studio/one-bath and four one-bedroom/one-bath apartments, all individually metered for gas and electric, significantly reducing operating costs. The property features a secure entry system, high-end finishes including stainless steel appliances, and a recently replaced roof (2017). Currently operating at 100% occupancy, the property generates a strong NOI of $138,197, with a pro-forma NOI projected at $164,464, representing a 5.64% cap rate and a pro-forma cap rate of 6.71%. The asking price is $2,450,000 ($365.13/sq ft and $204,166.67 per unit). The property's high walk score (94) and proximity to public transportation, trendy restaurants, and bars further enhance its appeal. Zoned LAR4, this well-maintained property offers significant rental upside potential within a highly sought-after submarket. This is a 1031 exchange eligible property.

• CAP approach

  CAP return

  Valuation

  6%

  $2,410,751

  6.5%

  $2,225,309

  7%

  $2,066,358

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,977,759

  Geo Method

  $1,977,759

• Alternative Use

  Use

  Valuation

  Residential

  $2,225,309

  Hospitality

  $2,038,371

  Educational

  $1,695,901

  Medical

  $1,754,225

  Retail

  $2,638,068

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0496

Longitude

-118.293

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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