1025 W 23rd St
Los Angeles, CA 90007
8 Units Within USC Patrol Zone | 4.73% CAP · Multifamily Property For Sale · 8 Units

Marcus & Millichap, the exclusive listing agent, is pleased to present for sale 1025 West 23rd Street, an eight-unit apartment building situated in the University Park submarket. As one of Los Angeles’ most sought neighborhoods, this submarket’s popularity has grown significantly over the recent years, with the University Village nearby and trendy retail and coffee shops in the immediate area. The location has been catering not only to students but also families and young professionals alike in recent years because of its proximity to Downtown Los Angeles, Koreatown, and the University of Southern California. The location of the asset is also considered a “Walkers Paradise” with a 90 Walk Score and situated a short distance from dining, entertainment and employment options. The subject property features on-site parking and is separately metered for gas and electric. Current ownership has extensively renovated 50 percent of the units at the property, including stainless appliances, new flooring and upgraded kitchens and bathrooms. Due to its 1964 construction, the property is subject to Los Angeles rent control statutes. The property offers investors a unique opportunity to acquire a renovated building with excellent in-place returns with substantial rental upside remaining.