2769 San Marino St 8 Unit Apartment Building $2,050,000 ($256,250/Unit) 4.23% Cap Rate Los Angeles, CA 90006

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 2769 San Marino Street, an eight-unit apartment community bordering the Koreatown neighborhood of Los Angeles, just east of Vermont Avenue and north of Olympic Boulevard.
Built in 1987, the property rises two stories over ground-level parking and comprises 6,080 square feet on a 6,750-square-foot lot. All eight residences are two-bedroom, one-bathroom floor plans, a uniform configuration that simplifies renovation, leasing, and ongoing management. Residents are served by 15 parking spaces and on-site laundry.
By virtue of its 1987 construction, the property is not subject to the Los Angeles Rent Stabilization Ordinance; rents are instead governed by AB 1482, which permits annual increases of 5 percent plus CPI, up to a maximum of 10 percent. Approximately 28 percent rental upside remains, available to a new owner through ordinary turnover and interior renovation rather than through a repositioning of the asset.
The immediate area is highly walkable and well served by transit. The property carries a Walk Score of 94, and the Wilshire/Vermont Station, served by the Metro B and D Lines, sits a short walk to the north, with several Metro bus lines and the DASH Wilshire Center/Koreatown circulator running within a few blocks. The Wilshire corridor’s office base, Southwestern Law School, and Koreatown’s restaurants and retail immediately to the west anchor a deep tenant pool, one that continues to draw households priced out of the surrounding submarkets.
For a buyer underwriting durable in-place income alongside a defined path to market rents, 2769 San Marino Street offers a straightforward execution in a long-established rental submarket.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.