816 S Park View St - Parkside Townhomes Multifamily Building

816 South Parkview is a 1920’s three story wood frame and stucco construction property. The center hallway is individually metered for electricity. At one point the property was individually metered for gas but the meters have been removed and the individual stubs are still in the property and accessible, providing an owner with the opportunity to individually meter the gas lines again. The property contains thirty studios with a full kitchen and one bathroom that are approximately four hundred square feet. There is a laundry room on the property; however, there is currently no laundry equipment. A buyer would need to install their own equipment or contract with a laundry vendor which will refurbish the laundry room and provide a laundry lease with all of the necessary equipment. There is no on-site parking; however, there are several affordable pay lots in close proximity to the property which tenants utilize for monthly parking rental. The Parkview property is located just south-east of the intersection of Hoover Street and Wilshire Boulevard. The property is halfway between downtown Los Angeles and the neighborhood of Koreatown. The majority of the retail stores adjacent to the property cater to the Korean community and the diverse demographics in the neighborhood help to provide a very strong rental market. Wilshire, 8th Street, Alvarado, and Hoover streets all have multiple and frequent bus lines. In addition, there is a subway Metro station at the corner of Wilshire and Alvarado.