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747 S New Hampshire Ave 24 Unit Apartment Building $3,495,000 ($145,625/Unit) 6% Cap Rate Los Angeles, CA 90005
Investment Highlights
- High-End Unit Renovations
- Prime Koreatown Location
- Walkable to Wilshire/Vermont Metro Station
- 16% Loss-to-Lease
- Amenity Rich with Walkscore of 96
- Classic 1920's Wood Frame & Stucco
Executive Summary
Prime Koreatown Location: In the heart of Wilshire Center–Koreatown — one of LA's densest, highest-
demand rental submarkets, minutes from Downtown and Hollywood.
16% Loss-to-Lease: Current rents average $1,380/unit vs. market $1,595 — $5,159 in monthly upside.
Walker's Paradise · Walk Score 96: A Walk Score of 96 means daily errands require no car — the 3rd
most walkable neighborhood in Los Angeles.
Amenities at the Doorstep: Exceptional walkable access to dining, groceries, shopping and nightlife —
three shopping centers sit within ~0.2 miles (˜ 3-minute walk).
Koreatown Core Location: The Purple and Red Metro Lines at Wilshire/Vermont are within ~0.4 mile,
plus quick access to the 101, 110, 10 and 5 freeways.
High-End Unit Renovations: Reimagined interiors blending 1920s character with modern finishes —
designer kitchens with new appliances, updated baths, and hardwood floors — driving premium,
defensible rents.
Below-Replacement-Cost Basis: At $235/SF, pricing sits meaningfully below new-construction costs
in a submarket with 2,200+ units underway.
Classic 1920s Construction, LAR4 Zoning: Wood-frame and stucco construction on an 11,362-SF
LAR4-zoned lot, adding long-term development optionality.
demand rental submarkets, minutes from Downtown and Hollywood.
16% Loss-to-Lease: Current rents average $1,380/unit vs. market $1,595 — $5,159 in monthly upside.
Walker's Paradise · Walk Score 96: A Walk Score of 96 means daily errands require no car — the 3rd
most walkable neighborhood in Los Angeles.
Amenities at the Doorstep: Exceptional walkable access to dining, groceries, shopping and nightlife —
three shopping centers sit within ~0.2 miles (˜ 3-minute walk).
Koreatown Core Location: The Purple and Red Metro Lines at Wilshire/Vermont are within ~0.4 mile,
plus quick access to the 101, 110, 10 and 5 freeways.
High-End Unit Renovations: Reimagined interiors blending 1920s character with modern finishes —
designer kitchens with new appliances, updated baths, and hardwood floors — driving premium,
defensible rents.
Below-Replacement-Cost Basis: At $235/SF, pricing sits meaningfully below new-construction costs
in a submarket with 2,200+ units underway.
Classic 1920s Construction, LAR4 Zoning: Wood-frame and stucco construction on an 11,362-SF
LAR4-zoned lot, adding long-term development optionality.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$397,450
|
$28.01
|
| Other Income |
$11,859
|
$0.84
|
| Vacancy Loss |
$12,279
|
$0.87
|
| Effective Gross Income |
$397,030
|
$27.98
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$187,496
|
$13.22
|
| Net Operating Income |
$209,534
|
$14.77
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $397,450 |
| Annual Per SF | $28.01 |
| Other Income | |
|---|---|
| Annual | $11,859 |
| Annual Per SF | $0.84 |
| Vacancy Loss | |
|---|---|
| Annual | $12,279 |
| Annual Per SF | $0.87 |
| Effective Gross Income | |
|---|---|
| Annual | $397,030 |
| Annual Per SF | $27.98 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $187,496 |
| Annual Per SF | $13.22 |
| Net Operating Income | |
|---|---|
| Annual | $209,534 |
| Annual Per SF | $14.77 |
Property Facts
| Price | $3,495,000 | Apartment Style | Low-Rise |
| Price Per Unit | $145,625 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 6% | Building Size | 14,188 SF |
| Gross Rent Multiplier | 8.79 | No. Stories | 2 |
| No. Units | 24 | Year Built/Renovated | 1921/2018 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LAR4 - Multi-Family Residential | ||
| Price | $3,495,000 |
| Price Per Unit | $145,625 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 8.79 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 14,188 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1921/2018 |
| Opportunity Zone |
Yes |
| Zoning | LAR4 - Multi-Family Residential |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 24 | - | 500 |
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5094-010-007 | Improvements Assessment | $600,920 |
| Land Assessment | $2,403,698 | Total Assessment | $3,004,618 |
Property Taxes
Parcel Number
5094-010-007
Land Assessment
$2,403,698
Improvements Assessment
$600,920
Total Assessment
$3,004,618
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