3960 W 8th St
Los Angeles, CA 90005
Multifamily Property For Sale · 10 Units

Kidder Mathews is pleased to present to market, 3960 W 8th Street, a 10-unit apartment building located in Koreatown, a highly desirable submarket of Los Angeles. Originally constructed in 1956, the Property is a well-maintained two-story structure with on-site parking and spacious units. The Property features a favorable unit mix of two: two bedroom one bath, six: one bedroom one bath, and two: studio units. 3960 W 8th Street presents the opportunity for an investor to enter a high-demand rental market with the potential to add value through additional renovations. Three of the ten units have been extensively renovated with high-end finishes which include new stainless-steel appliances, laminate and tile flooring, new kitchen cabinets and tile backsplashes, new fixtures, new paint, new based moldings, and energy efficient LED lighting. One unit will be delivered vacant for buyer to immediately renovate the unit and raise the rental rate. Through a complete interior renovation program, an investor will have the opportunity to capitalize on the remaining rental upside. Additionally, the Property has a brand new water heater and is separately metered for electricity and master metered for gas. There are seven individual parking garages, three surface spaces, and extra parking spaces in front of four of the garages, offering additional income. Exterior upgrades include new drought resistant landscaping and new exterior paint. The Property also features on-site laundry facilities. 3960 W 8th Street is conveniently located in an amenity rich location, near entertainment, shopping, hotels, and restaurants along with local transportation. Tenants are within walking distance to the Wilshire/Western Purple Line Metro Station, connecting them to Downtown Los Angeles. The Purple Line is currently undergoing construction to extend the line by 2023 with new stations servicing Beverly Hills, Westwood and Brentwood. Further, the Property is within driving distance to major employment centers including Downtown LA, Beverly Hills, Century City, Hollywood, West Hollywood, and Mid-Wilshire. With tremendous rental upside, 3960 W 8th Street provides investors with the opportunity to acquire a well-maintained building with a value add component.