Built in 1954, 208 South Harvard Boulevard is an 8-unit property is located between Koreatown and Larchmont Village. The two-story building features six one-bedroom units and two two-bedrooms units, all with spacious floor plans and sophisticated interior finishes.
All of the units have undergone extensive renovations, including in-unit washers and dryers, hardwood flooring, recessed lighting, custom cabinetry, as well as high-end appliances. The property is separately metered for gas and electric, has new electrical and plumbing, and each unit has individual water heaters. Additionally, the subject property has eight parking spaces and a gated driveway.
This offering presents an investor the opportunity to purchase a stabilized asset with market rents and extensive renovations, providing passive income in a market that has shown consistent growth in population and rents year over year. The property is being offered at a 4.70% CAP rate on current income.
The Koreatown neighborhood continues to grow at a rapid pace and attracts high-end residents with the unparalleled access to employment opportunities and entertainment amenities. The subject property has a walk score of 91 and the location allows for a quick commute to both Hollywood and Downtown Los Angeles. The immediate area surrounding the subject property has a population of over 649,000 within a three-mile radius.
