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We are excited to present a prime investment opportunity at 2819 Leeward Ave in the vibrant Koreatown neighborhood of Los Angeles. Situated between S. Hoover St. and Vermont Ave, just one block south of Southwestern Law School, this property offers 47 units in total, including 46 single units and one one-bedroom unit. The property is offered at $104,255 per unit, equating to $183 per square foot, with an impressive 6.76% CAP rate and 7.58 GRM based on current income. Additionally, there is significant rental upside potential of 24% as units turn over. The building is separately metered for electricity and features an on-site community laundry room leased with Wash, including five washers and five dryers for added convenience. With a high Walk Score of 93, the location is ideal for residents looking for easy access to schools, employment centers, and public transit. The property is within walking distance to retail along 7th St., just one mile from the Metro D Line rail station, and steps away from several Metro local lines on 8th St. and S. Hoover St. Koreatown is one of the densest neighborhoods in Los Angeles, with a population of around 120,000. Since the early 2000s, Koreatown has seen over $1 billion in development, and the area continues to be a prime location for real estate investment due to ongoing projects and growth.
Property Type(s):
Residential Income
| Last Updated | 3/27/2025 | Year Built | 1924 |
|---|---|---|---|
| Community | Mid-Wilshire | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | Mid-Wilshire |
| GARAGE | None |
| HEAT | None |
| LOT | 9048 sq ft |
| LOT DIMENSIONS | 59x155 |
| PARKING | None |
| STORIES | 4 |
| ZONING | LAR4 |
Location
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Listed with Marcus & Millichap
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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