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Huge Price Reduction: No Rent Control @ 7 CAP 311 S New Hampshire Ave 16 Unit Apartment Building $3,925,000 ($245,313/Unit) 6.98% Cap Rate Los Angeles, CA 90020
Investment Highlights
- 9.02 GRM and 6.98 CAP Rate
- Prime Koreatown location
- Significant upside in rents
- EXEMPT from Los Angeles City rent control
- Excellent unit mix: Half 1 bedroom units and half 2 bedroom units
Executive Summary
9.02 GRM AND 6.98 CAP AFTER HUGE PRICE REDUCTION. Jonathan Taksa of the Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to present 311 S New Hampshire Avenue, a rare opportunity to acquire a well maintained 16-unit apartment building located in the heart of Los Angeles’ dynamic Koreatown submarket. Built in 1989, the property benefits from exemption to the City of Los Angeles Rent Stabilization Ordinance, providing investors with operational flexibility and the ability to capture substantial rental upside. The property is subject only to AB 1482, allowing for continued rent
growth aligned with market performance.
Situated on a desirable residential street just moments from Koreatown’s premier dining, retail, and employment centers, 311 S New Hampshire Avenue offers an exceptional unit mix consisting of eight one-bedroom, one-bath units and eight two-bedroom, two-bath units. This balanced configuration appeals to a broad tenant base, including young professionals, couples, and families seeking quality housing in one of Los Angeles’ most vibrant urban neighborhoods.
The property has been professionally managed and features desirable amenities including secured subterranean parking and an on-site laundry facility, enhancing tenant convenience while providing additional income potential. With strong in-place income and meaningful rental upside potential, investors are presented with the opportunity to increase cash flow and long-term asset value through strategic management and interior upgrades.
311 S New Hampshire Avenue represents a rare opportunity to acquire a newer-vintage multifamily asset in Koreatown, one of Los Angeles’ strongest and most supply-constrained rental markets. The combination of its favorable vintage, ideal unit mix, prime location, and upside potential positions the property as an exceptional long-term investment.
growth aligned with market performance.
Situated on a desirable residential street just moments from Koreatown’s premier dining, retail, and employment centers, 311 S New Hampshire Avenue offers an exceptional unit mix consisting of eight one-bedroom, one-bath units and eight two-bedroom, two-bath units. This balanced configuration appeals to a broad tenant base, including young professionals, couples, and families seeking quality housing in one of Los Angeles’ most vibrant urban neighborhoods.
The property has been professionally managed and features desirable amenities including secured subterranean parking and an on-site laundry facility, enhancing tenant convenience while providing additional income potential. With strong in-place income and meaningful rental upside potential, investors are presented with the opportunity to increase cash flow and long-term asset value through strategic management and interior upgrades.
311 S New Hampshire Avenue represents a rare opportunity to acquire a newer-vintage multifamily asset in Koreatown, one of Los Angeles’ strongest and most supply-constrained rental markets. The combination of its favorable vintage, ideal unit mix, prime location, and upside potential positions the property as an exceptional long-term investment.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$387,807
|
$32.89
|
| Other Income |
$47,520
|
$4.03
|
| Vacancy Loss |
$11,634
|
$0.99
|
| Effective Gross Income |
$423,693
|
$35.93
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$149,593
|
$12.69
|
| Net Operating Income |
$274,100
|
$23.24
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $387,807 |
| Annual Per SF | $32.89 |
| Other Income | |
|---|---|
| Annual | $47,520 |
| Annual Per SF | $4.03 |
| Vacancy Loss | |
|---|---|
| Annual | $11,634 |
| Annual Per SF | $0.99 |
| Effective Gross Income | |
|---|---|
| Annual | $423,693 |
| Annual Per SF | $35.93 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $149,593 |
| Annual Per SF | $12.69 |
| Net Operating Income | |
|---|---|
| Annual | $274,100 |
| Annual Per SF | $23.24 |
Property Facts
| Price | $3,925,000 | Apartment Style | Low-Rise |
| Price Per Unit | $245,313 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 6.98% | Building Size | 11,792 SF |
| Gross Rent Multiplier | 9.02 | Average Occupancy | 94% |
| No. Units | 16 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1989 |
| Property Subtype | Apartment | Parking Ratio | 1.87/1,000 SF |
| Zoning | C2 - Commercial | ||
| Price | $3,925,000 |
| Price Per Unit | $245,313 |
| Sale Type | Investment |
| Cap Rate | 6.98% |
| Gross Rent Multiplier | 9.02 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 11,792 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built | 1989 |
| Parking Ratio | 1.87/1,000 SF |
| Zoning | C2 - Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Microwave
- Kitchen
- Oven
- Tub/Shower
- Den
- Vinyl Flooring
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 650 - 850 |
| 2+2 | 8 | - | 905 - 1,095 |
1 1
Very walkable
80/100
Exceptionally drivable
100/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5502-007-014 | Improvements Assessment | $1,407,161 (2025) |
| Land Assessment | $2,489,593 (2025) | Total Assessment | $3,896,754 (2025) |
Property Taxes
Parcel Number
5502-007-014
Land Assessment
$2,489,593 (2025)
Improvements Assessment
$1,407,161 (2025)
Total Assessment
$3,896,754 (2025)
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Huge Price Reduction: No Rent Control @ 7 CAP | 311 S New Hampshire Ave
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