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8-Units with Parking | Near Koreatown 328 N Alexandria Ave 8 Unit Apartment Building $1,641,216 CAD ($205,152 CAD/Unit) 4.33% Cap Rate Los Angeles, CA 90004
Investment Highlights
- Offered at $150,000 per unit, providing a competitive entry point for a vintage asset in one of Los Angeles’ most central rental submarkets
- Near shops, restaurants, bars, theaters, gyms, and employment hubs throughout East Hollywood, Koreatown, Hollywood, and Downtown LA
- Situated on an oversized LAR3 parcel with room to add detached ADUs, offering additional income and appreciation potential — buyer to verify
- There is 53% remaining rental upside through interior renovations and exterior improvements
- Walking distance to the Vermont/Beverly Metro Station, providing direct rail access to Downtown Los Angeles, Hollywood, and Universal City
- Close to LACC, Kaiser Permanente, Children's Hospital LA, and Barnsdall Art Park — major employment and cultural anchors of East Hollywood
Executive Summary
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 328 North Alexandria Avenue, an 8-unit apartment property located just north of Beverly Boulevard in the East Hollywood submarket of Los Angeles, bordering Koreatown to the south.
The subject property offers easy access to Downtown Los Angeles, Hollywood, and the Mid-Wilshire corridor, with the Metro Red Line’s Vermont/Beverly Station located within walking distance. East Hollywood is one of the most centrally located and culturally diverse neighborhoods in Los Angeles. Residents enjoy a dense mix of restaurants, cafes, and retail along Vermont Avenue and Melrose Avenue, with Thai Town, Little Armenia, and the dining and nightlife corridors of Koreatown all within close reach.
Situated on a 6,900-square-foot parcel, the property is comprised of 3 studios and 5 one-bedroom units totaling 3,833 rentable square feet. Built in 1929, the asset reflects the classic architectural character of the neighborhood. The property has 53% remaining rental upside achievable through interior renovations and exterior curb-appeal improvements.
328 North Alexandria Avenue offers investors an opportunity to acquire a value-add asset in one of the most central infill submarkets of Los Angeles. The combination of in-place cash flow and substantial mark-to-market potential make 328 North Alexandria Avenue a compelling acquisition opportunity.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
The subject property offers easy access to Downtown Los Angeles, Hollywood, and the Mid-Wilshire corridor, with the Metro Red Line’s Vermont/Beverly Station located within walking distance. East Hollywood is one of the most centrally located and culturally diverse neighborhoods in Los Angeles. Residents enjoy a dense mix of restaurants, cafes, and retail along Vermont Avenue and Melrose Avenue, with Thai Town, Little Armenia, and the dining and nightlife corridors of Koreatown all within close reach.
Situated on a 6,900-square-foot parcel, the property is comprised of 3 studios and 5 one-bedroom units totaling 3,833 rentable square feet. Built in 1929, the asset reflects the classic architectural character of the neighborhood. The property has 53% remaining rental upside achievable through interior renovations and exterior curb-appeal improvements.
328 North Alexandria Avenue offers investors an opportunity to acquire a value-add asset in one of the most central infill submarkets of Los Angeles. The combination of in-place cash flow and substantial mark-to-market potential make 328 North Alexandria Avenue a compelling acquisition opportunity.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
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Property Facts
| Price | $1,641,216 CAD | Building Class | C |
| Price Per Unit | $205,152 CAD | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,833 SF |
| Cap Rate | 4.33% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.76 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1929 |
| Property Type | Multifamily | Parking Ratio | 2.09/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LAR3 | ||
| Price | $1,641,216 CAD |
| Price Per Unit | $205,152 CAD |
| Sale Type | Investment |
| Cap Rate | 4.33% |
| Gross Rent Multiplier | 11.76 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,833 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1929 |
| Parking Ratio | 2.09/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | - |
| 1+1 | 5 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Strong public transit
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5520-023-003 | Improvements Assessment | $724,368 CAD |
| Land Assessment | $1,194,836 CAD | Total Assessment | $1,919,204 CAD |
Property Taxes
Parcel Number
5520-023-003
Land Assessment
$1,194,836 CAD
Improvements Assessment
$724,368 CAD
Total Assessment
$1,919,204 CAD
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8-Units with Parking | Near Koreatown | 328 N Alexandria Ave
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