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926 Fedora St
Los Angeles, CA 90006
926 & 932 S fedora St Los Angeles CA 90006 · Multifamily Property For Sale
·
24 Units
Investment Highlights
- PRIME KOREATOWNLOCATION Two adjacent 12-unit buildings totaling 24 units in one of LA's most dense, renter-dominated submarkets with a Walk Score of 9
- TRANSIT-ORIENTED LOCATION Two Metro Purple Line stations within one mile — Wilshire/Normandie (0.7 mi) and Wilshire/Vermont (0.9 mi) — with direct acc
- STRONG RENTAL DEMAND Koreatown boasts one of the lowest vacancy rates in LA (~5.7%), driven by a population of 124,560 within a one-mile radius and 60
- STRONG PRO FORMA RETURNS Pro forma cap rate of 5.32% and projected NOI of $292,525 once fully stabilized, versus a current NOI of $183,325.
- COVERED PARKING 18 covered parking spaces — a meaningful amenity that differentiates the property and supports premium rent positioning in a competiti
- IMMEDIATE VALUE-ADD UPSIDE 5 vacant units available for immediate lease-up at market rents ($2,000/1BR, $1,100/Bach), generating an additional $109,20
Executive Summary
926 & 932 S Fedora Street, a 24-unit multifamily investment opportunity located in the heart of Koreatown, one of Los Angeles' most dynamic and renter-driven submarkets.
This offering consists of two adjacent 12-unit apartment buildings totaling approximately 14,200 square feet on a 12,877 square foot lot, providing investors with scale, operational efficiency, and long-term upside. Built in 1961 and zoned R4-1, the property is well-positioned within a high-density residential corridor with continued growth and redevelopment potential.
The asset features a desirable unit mix of one-bedroom, studio, and bachelor units, with interiors offering hardwood-style flooring and functional layouts. The property also includes 18 covered parking spaces, a highly sought-after amenity in Koreatown that supports tenant demand and rental premiums.
This is a true value-add opportunity, with five vacant units allowing for immediate lease-up at current market rents. Upon stabilization, the property is projected to generate over $109,000 in additional annual income, achieving a pro forma cap rate of approximately 5.32%.
Strategically located just minutes from Downtown Los Angeles, USC, and the Wilshire Corridor, the property benefits from excellent connectivity, including proximity to two Metro Purple Line stations within one mile. Koreatown's strong fundamentalshigh population density, low vacancy rates, and consistent rental demandcontinue to drive long-term investment stability and growth.
Offered at $5,500,000, the property is attractively priced relative to comparable sales in the area and presents investors with flexible acquisition options, including the ability to purchase each 12-unit building individually.
This offering consists of two adjacent 12-unit apartment buildings totaling approximately 14,200 square feet on a 12,877 square foot lot, providing investors with scale, operational efficiency, and long-term upside. Built in 1961 and zoned R4-1, the property is well-positioned within a high-density residential corridor with continued growth and redevelopment potential.
The asset features a desirable unit mix of one-bedroom, studio, and bachelor units, with interiors offering hardwood-style flooring and functional layouts. The property also includes 18 covered parking spaces, a highly sought-after amenity in Koreatown that supports tenant demand and rental premiums.
This is a true value-add opportunity, with five vacant units allowing for immediate lease-up at current market rents. Upon stabilization, the property is projected to generate over $109,000 in additional annual income, achieving a pro forma cap rate of approximately 5.32%.
Strategically located just minutes from Downtown Los Angeles, USC, and the Wilshire Corridor, the property benefits from excellent connectivity, including proximity to two Metro Purple Line stations within one mile. Koreatown's strong fundamentalshigh population density, low vacancy rates, and consistent rental demandcontinue to drive long-term investment stability and growth.
Offered at $5,500,000, the property is attractively priced relative to comparable sales in the area and presents investors with flexible acquisition options, including the ability to purchase each 12-unit building individually.
Property Facts
| Price Per Unit | $229,167 | Lot Size | 0.30 AC |
| Sale Type | Investment | Building Size | 14,200 SF |
| Cap Rate | 5.32% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.27/1,000 SF |
| Building Class | C | ||
| Zoning | R4-1 | ||
| Price Per Unit | $229,167 |
| Sale Type | Investment |
| Cap Rate | 5.32% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 14,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.27/1,000 SF |
| Zoning | R4-1 |
Property Taxes
| Parcel Number | 5094-023-013 | Improvements Assessment | $412,763 |
| Land Assessment | $724,158 | Total Assessment | $1,136,921 |
Property Taxes
Parcel Number
5094-023-013
Land Assessment
$724,158
Improvements Assessment
$412,763
Total Assessment
$1,136,921
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