Description

APN's: 5080-008-006, 5080-008-007, 5080-008-008. 975-985 Oxford Ave is a unique investment opportunity to purchase 3 adjacent buildings totaling 60 apartment units. The assets are located in the heart of Koreatown on the corner of S Oxford Ave and Monette Pl providing easy access to Downtown LA and Hollywood. The three buildings total 24,204 SF and features a unit mix of 60 singles, the majority have been recently renovated with vinyl plank flooring, recessed lighting, new stainless-steel appliances, and updated kitchens and bathrooms. At the asking price, the property is being offered with minimal deferred maintenance required and strong in-place cash flow at a 4.53% CAP rate on current income. Additionally, there is a RUBS program in-place and community laundry offering investors significant additional income. High Walk Score of 97, close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. Koreatown is one of the densest neighborhoods in Los Angeles, with about 120,000 people. With an estimated $1 billion invested in the development of Koreatown since the early 2000s and various development projects taking place, Koreatown remains one of the best areas to invest in.