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12-Units Near DTLA | 7.98 GRM 1247 W 8th St 12 Unit Apartment Building $2,005,915 CAD ($167,160 CAD/Unit) 5.64% Cap Rate Los Angeles, CA 90017
INVESTMENT HIGHLIGHTS
- There is 24 percent remaining rental upside through interior renovations
- Located in a dense pocket (Walk Score of 92) approximately one mile from the LA Convention Center, LA Live, and Crypto Arena
- Long Term Ownership - Owned & operated for the Last 13 Years
- Being offered at an attractive basis of 7.98 GRM & $120,833 per unit
- Close to major 2028 Olympic venues in the 'Downtown Sports Park', including the LA Coliseum, Crypto.com Arena, and BMO Stadium
- Located in the path of future growth between Downtown Los Angeles, West Adams & Koreatown
EXECUTIVE SUMMARY
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 12-unit apartment community located at 1247 West 8th Street. The subject property is situated west of the 110 Freeway and south of Wilshire Boulevard.
Positioned on a 5,508-square-foot parcel, the property is comprised of four studios and eight one-bedroom units and is being offered at an attractive basis of 7.98 GRM and $120,833 per unit, with 24% remaining rental upside through unit renovations.
The property is in close proximity to multiple venues for the 2028 Summer Olympics, including the LA Memorial Coliseum, Crypto.com Arena, and BMO Stadium, which bode well for the long-term prospects of the neighborhood.
1247 West 8th Street offers investors a compelling opportunity to acquire an asset with a strong value-add component and to capitalize on the continued westward expansion and revitalization of the Downtown submarket.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Positioned on a 5,508-square-foot parcel, the property is comprised of four studios and eight one-bedroom units and is being offered at an attractive basis of 7.98 GRM and $120,833 per unit, with 24% remaining rental upside through unit renovations.
The property is in close proximity to multiple venues for the 2028 Summer Olympics, including the LA Memorial Coliseum, Crypto.com Arena, and BMO Stadium, which bode well for the long-term prospects of the neighborhood.
1247 West 8th Street offers investors a compelling opportunity to acquire an asset with a strong value-add component and to capitalize on the continued westward expansion and revitalization of the Downtown submarket.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $2,005,915 CAD | Property Subtype | Apartment |
| Price Per Unit | $167,160 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 5.64% | Lot Size | 0.13 AC |
| Gross Rent Multiplier | 7.98 | Building Size | 6,762 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1910 |
| Zoning | LACW - CENTRAL CITY WEST SPECIFIC PLAN ZONE Future development potential due to high density zoning in LACW area. | ||
| Price | $2,005,915 CAD |
| Price Per Unit | $167,160 CAD |
| Sale Type | Investment |
| Cap Rate | 5.64% |
| Gross Rent Multiplier | 7.98 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.13 AC |
| Building Size | 6,762 SF |
| No. Stories | 2 |
| Year Built | 1910 |
| Zoning | LACW - CENTRAL CITY WEST SPECIFIC PLAN ZONE Future development potential due to high density zoning in LACW area. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | - | - |
| 1+1 | 8 | - | - |
1 1
Walk Score®
Walker's Paradise (93)
Transit Score®
Rider's Paradise (96)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 5143-011-012 | Improvements Assessment | $225,569 CAD |
| Land Assessment | $867,602 CAD | Total Assessment | $1,093,171 CAD |
PROPERTY TAXES
Parcel Number
5143-011-012
Land Assessment
$867,602 CAD
Improvements Assessment
$225,569 CAD
Total Assessment
$1,093,171 CAD
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12-Units Near DTLA | 7.98 GRM | 1247 W 8th St
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