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3262 Monette Pl 12 Unit Apartment Building $2,250,000 ($187,500/Unit) 5.30% Cap Rate Los Angeles, CA 90006
Investment Highlights
- Central Koreatown location.
- Future redevelopment potential (R4-1a Zoning).
- Low price per unit.
- Walking distance to Koreatown Plaza and the Koreatown Galleria.
- All tenants are MTM - potential to increase rents.
Executive Summary
Located in the heart of Koreatown, 3262 Monette Place presents a rare opportunity to acquire a value-add multifamily asset with strong fundamentals and future upside. This 12-unit property, comprised entirely of one-bedroom, one-bathroom units, sits on a generous ±11,174 SF R4-1 zoned lot, offering both stable income and long-term redevelopment potential. Built in 1922, the ±7,776 SF building is situated in a high-demand rental market with a Walk Score of 96 and Transit Score of 72, reflecting its exceptional accessibility.
Property Facts
| Price | $2,250,000 | Apartment Style | Garden |
| Price Per Unit | $187,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.30% | Building Size | 6,000 SF |
| Gross Rent Multiplier | 11.7 | No. Stories | 1 |
| No. Units | 12 | Year Built | 1922 |
| Property Type | Multifamily | Parking Ratio | 1.34/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LAR4 - Multifamily Residential Units | ||
| Price | $2,250,000 |
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| Gross Rent Multiplier | 11.7 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,000 SF |
| No. Stories | 1 |
| Year Built | 1922 |
| Parking Ratio | 1.34/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR4 - Multifamily Residential Units |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | - | - |
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (72)
Bike Score®
Very Bikeable (70)
Property Taxes
| Parcel Number | 5080-008-005 | Improvements Assessment | $272,128 |
| Land Assessment | $261,232 | Total Assessment | $533,360 |
Property Taxes
Parcel Number
5080-008-005
Land Assessment
$261,232
Improvements Assessment
$272,128
Total Assessment
$533,360
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3262 Monette Pl
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