981 Elden Avenue is a stabilized and meticulously renovated, 18-unit multi-family property located in the highly desirable Koreatown submarket of Los Angeles, just north of Olympic Boulevard and east of Vermont Avenue.
The building is comprised of 8 singles and 10 (1 bed + 1 bath) units and recently underwent thorough renovations in 2018-2019, making it an attractive, stabilized investment opportunity in this highly coveted, high-demand rental market. The remodeled unit interiors feature spacious floorplans with new laminate wood flooring, quartz countertops, stainless steel appliances, new bathroom fixtures, fresh paint and ample natural light. Select north-facing units contain large private balconies.
The 10,594 square foot structure is situated on a 10,020 square foot, LAR4-1 zoned lot that includes 18 secured and covered parking spaces (1 space/unit), a communal outdoor lounge area, and on-site laundry. Additional features include an on-site manager and a secured intercom entry system. The required City of Los Angeles seismic retrofitting work for the building has already been completed and the building is all-electric, with a new electrical system including main panels and sub-panels. Additionally, most of the building’s plumbing lines and windows have been replaced in recent years.
The property’s central Koreatown location offers tenants easy access to the surrounding neighborhoods of Mid-Wilshire, Mid-City, West Adams, and the revitalized Downtown Los Angeles. The property is close to the 10 freeway, the 101, and the 110, and is walking distance to public transportation (the Wilshire/Vermont Metro red/purple line station is just .7 miles away) and the countless local shopping and entertainment destinations lining Olympic Blvd., Vermont Ave., & Wilshire Blvd. at Koreatown’s center.
