16-Bedroom Residential Income - 2769 San Marino Street, Los Angeles, CA

Description

We are pleased to offer for sale 2769 San Marino Street, an eight-unit apartment community bordering the Koreatown neighborhood of Los Angeles, just east of Vermont Avenue and north of Olympic Boulevard.Built in 1987, the property rises two stories over ground-level parking and comprises 6,080 square feet on a 6,750-square-foot lot. All eight residences are two-bedroom, one-bathroom floor plans, a uniform configuration that simplifies renovation, leasing, and ongoing management. Residents are served by 15 parking spaces and on-site laundry. By virtue of its 1987 construction, the property is not subject to the Los Angeles Rent Stabilization Ordinance; rents are instead governed by AB 1482. Significant rental upside remains, available to a new owner through ordinary turnover and interior renovation rather than through a repositioning of the asset. The immediate area is highly walkable and well served by transit. The property carries a Walk Score of 94, and the Wilshire/Vermont Station, served by the Metro B and D Lines, sits a short walk to the north, with several Metro bus lines and the DASH Wilshire Center/Koreatown circulator running within a few blocks. The Wilshire corridor's office base, Southwestern Law School, and Koreatown's restaurants and retail immediately to the west anchor a deep tenant pool, one that continues to draw households priced out of the surrounding submarkets.For a buyer underwriting durable in-place income alongside a defined path to market rents, 2769 San Marino Street offers a straightforward execution in a long-established rental submarket.PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.

Property details

Location

2769 San Marino Street • Los Angeles, CA 90006

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Listed by

Sean Rosenzweig · Marcus & Millichap