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$ 4,950,000
Est. payment | /mo
17,280 SqFt
$ 4,950,000
Est. payment | /mo
17,280 SqFt
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Pending
Purchase Type For Sale
Square Footage 17,280 sqft
Price per Sqft $286
MLS Listing ID CL26640663
HOA Y/N No
Year Built 1966
Lot Size 9,010 Sqft
Acres 0.21
Property Sub-Type Comm Ind For Sale
Property Description
Located in one of Koreatown's most desirable pockets, 538 S Oxford Avenue presents a rare chance to acquire a high performing asset with substantial upside in one of Los Angeles's most dynamic rental markets. This 24-unit building sits just moments from the area's top dining, retail, and transportation amenities, making it a highly coveted address that consistently attracts strong tenant demand. Constructed in 1966, the property features an efficient and highly leasable unit mix of (3) Singles and (21) One-bedroom apartment homes, totaling approximately 17,280 SF of improvements. The building is fully parked, an increasingly hard-to-find advantage in Koreatown that provides added convenience for residents while enhancing long-term value for ownership. Priced at $4,950,000, the offering equates to an attractive $206,000 per unit and a price per square foot well below replacement cost, creating a compelling basis in a core LA location. The asset also delivers an impressive 5.08% cap rate on actual income, with a clear path to nearly 10% cap rate at market rents. This combination of low entry basis and extraordinary rent upside is seldom seen in today's market. Well-located, well-parked, and primed for repositioning, 538 S Oxford checks every box for value-add investors. With Koreat
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Interior Features Elevator
Fireplace No
Exterior
Total Parking Spaces 23
Building
New Construction No
Others
Tax ID 5503020004
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Listed by Shaya Braverman • Keller Williams Beverly Hills
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Patrick Nagel
REALTOR® | Lic# 1760790