1047 Irolo Street, Los Angeles, CA 90006

About this property

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.

Listing description from the April 2025 sale, as reported to CRMLS.

Sale history

$2,150,000

Sold April 2025 · on market February 2025 · MLS #25497079 · Source: CRMLS

Listing Agent: Jason Tuvia · Listing Office: Marcus & Millichap · Contact: 818-212-2700 · Bought with: Jason Tuvia · Marcus & Millichap

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