1047 Irolo Street, Los Angeles, CA 90006
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Listed Price :
$2,150,000
-
Beds :
0
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Baths :
20
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Property Size :
8,712 sqft
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Year Built :
1926
Property Description
We are pleased to present a twenty (20) unit multifamily property located at 1047 Irolo Street in Los Angeles, California. The property is situated in a n ideal Koreatown location just south of Olympic Boulevard and east of Western Ave. Built in 1926, this property is comprised of twenty (20) studio units. Two (2) units will be de livered vacant allowing an investor to capture market rents on these units from day one. This property boasts a unique Nubian-inspired architecture, with the building resembling the grandeur of the Pyramids of Meroe. In addition, the property is master metered for gas, allowing rent to be increased by 5% annually. Averaging over 435 SF each, these large studio units have over 45% rental upside potential. The property includes a roughly 200 SF laundry room for tenants, allowing an investor to net additional income. This is the f first time in over 30years this property has been on the market. Situated in an ideal Koreatown location, this twenty (20) unit property presents an excellent opportunity for a value-add investor to capitalize on the tremendously rental upside.
Interior Features
| Bathroom Information |
| Bathrooms |
20 |
Listing Information
| Address |
1047 Irolo Street |
| City |
Los Angeles |
| State |
CA |
| Zip |
90006 |
| County |
Los Angeles |
| Listing Agent |
Jason Tuvia DRE #01772495 |
| Courtesy Of |
Marcus & Millichap |
| List Price |
$2,150,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
8,712 |
| Lot Size |
5,903 |
| Year Built |
1926 |
Listing information courtesy of: Jason Tuvia, Marcus & Millichap. *Based on information from the Association of REALTORS/Multiple Listing as of Feb 11th, 2025 at 8:31 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
