Description

742 Irolo Street presents an exceptional opportunity to acquire an 8-unit multifamily property in the heart of Koreatown, one of Los Angeles' most vibrant and high-demand rental submarkets. The property features a well-balanced mix of seven (1-bed / 1-bath) units and one (2-bed / 1-bath) unit, totaling 5,607 square feet of living space on a 6,762 square foot LAR4-zoned lot. Operating at a 4.6% cap rate and 13.18 GRM, the building offers investors a healthy in-place return with the potential for continued rent growth over time. The LAR4 zoning allows for future redevelopment possibilities, providing flexibility for both long-term hold and value-add investors seeking to capitalize on the strong fundamentals of the Koreatown market. The property is centrally located just moments from Wilshire Boulevard, 8th St, and the Wilshire/Normandie Metro Station, offering excellent access to Downtown Los Angeles, Hollywood, and the greater LA area. With an exceptional Walk Score, residents enjoy immediate proximity to Koreatown's most popular dining, nightlife, and retail destinations including The Line Hotel, H Mart, Chapman Plaza, and numerous trendy cafes and entertainment venues. 742 Irolo Street represents a rare opportunity to acquire a stabilized asset with consistent cash flow, upside potential, and irreplaceable location fundamentals. Whether you are a seasoned investor expanding your Los Angeles portfolio or a first-time buyer entering the multifamily market, this Koreatown property offers a compelling blend of income stability and long-term appreciation.