Description

Presenting 1629 S. New Hampshire Ave, a newly constructed 5-unit multifamily asset completed in 2024, located in a prime Los Angeles rental corridor just minutes from Downtown LA. The property currently has one vacant unit, with applications under review, offering investors an immediate lease-up opportunity.Once fully leased, the property is projected to generate pro forma gross income of approximately $232,200 annually and $19,350 monthly, reflecting a pro forma 6.1% cap rate.The building features five thoughtfully designed residences with modern open-concept layouts, spacious bedrooms, and contemporary finishes throughout. Each unit includes modern appliances, high-end interior finishes, and functional floor plans designed to appeal to today's renters. Select units also feature sweeping views of the Downtown Los Angeles skyline, further enhancing tenant demand.Built in 2024, the property benefits from new construction quality, helping minimize maintenance costs and improve long-term operational efficiency. The building also includes fully paid-off solar panels, reducing operating expenses while improving energy efficiency.Strategically located near Downtown Los Angeles, the property offers convenient access to major freeways including the 10, 110, and 101, providing easy connectivity to major employment hubs throughout the city. Residents also enjoy close proximity to Koreatown, USC, and DTLA, with access to premier dining, entertainment, and cultural attractions including Crypto.com Arena and the Los Angeles Convention Center.With 2024 construction, pro forma income upside, skyline views, and a central Los Angeles location, 1629 S. New Hampshire Ave represents a compelling multifamily investment opportunity in one of Los Angeles' most active rental markets.The property may also be purchased together with the neighboring asset at 1731 S. New Hampshire Ave (4 units), offering investors the opportunity to acquire a rare nine-unit portfolio in the same location.