532 S Hobart Blvd
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
532 S Hobart Blvd
29 Unit Apartment Building $5,953,374 CAD ($205,289 CAD/Unit) 4.16% Cap Rate Los Angeles, CA 90020
Investment Highlights
- First time on market in over 30 years
- Offered at $144,828/Unit
- Multiple Capital Improvements Including a New Elevator & Boiler
- Well-Maintained Asset Featuring Classic Finishes and Value Add- Potential
- 4.16% Cap Rate on Current Income (8.51% on Market Income)
- Opportunity for New Owner to Drive Operational Efficiencies by Capturing Upside in Rents and Implementing RUBS
Executive Summary
Located in the bustling heart of Koreatown, just south of 3rd Street, 532 S. Hobart Boulevard is a 29-unit, mid-rise style apartment building, comprised of (25) studios and (4) one-bedroom units. The asset is currently being offered at a 4.16% cap rate and 10.57 GRM on existing income, with upside to a 8.51% cap rate and 7.07 GRM on market rents.
Available for the first time in over 30 years, this well-maintained property has recently undergone multiple capital improvements, that include a new elevator along with the installation of a new boiler. This acquisition provides a new investor an opportunity to capture the upside in rents and drive operational efficiencies to improve yield on investment, such as the implementation of a Ratio Utility Billing System (RUBS).
Available for the first time in over 30 years, this well-maintained property has recently undergone multiple capital improvements, that include a new elevator along with the installation of a new boiler. This acquisition provides a new investor an opportunity to capture the upside in rents and drive operational efficiencies to improve yield on investment, such as the implementation of a Ratio Utility Billing System (RUBS).
Property Facts
| Price | $5,953,374 CAD | Apartment Style | Low Rise |
| Price Per Unit | $205,289 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 4.16% | Building Size | 20,520 SF |
| No. Units | 29 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $5,953,374 CAD |
| Price Per Unit | $205,289 CAD |
| Sale Type | Investment |
| Cap Rate | 4.16% |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 20,520 SF |
| No. Stories | 3 |
| Year Built | 1925 |
| Opportunity Zone |
Yes |
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Gated
- Recycling
- Walk-Up
1 of 1
Walk Score ®
Walker's Paradise (94)
Transit Score ®
Excellent Transit (80)
PROPERTY TAXES
| Parcel Number | 5503-022-012 | Improvements Assessment | $425,870 CAD |
| Land Assessment | $204,388 CAD | Total Assessment | $630,258 CAD |
PROPERTY TAXES
Parcel Number
5503-022-012
Land Assessment
$204,388 CAD
Improvements Assessment
$425,870 CAD
Total Assessment
$630,258 CAD
zoning
| Zoning Code | R4 |
| R4 |
1 of 16
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
532 S Hobart Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.