1322 S CATALINA Street, Los Angeles, CA 90006
Property · 2 recorded sales since 2020
Sold October 2020
Listing Agent: Neema Ahadian (DRE #01346750) · Listing Office: Marcus & Millichap · Contact: 213-943-1800 · Bought with: Neema Ahadian · Marcus & Millichap · MLS #20595238 · Source: CRMLS
About this property
Marcus & Millichap is pleased to present 1322 South Catalina Street, Los Angeles, CA 90006. Built in 1927, this unique 18-unit property totals 10,066 SF located in the heart of Koreatown, between Normandie Ave & Vermont Ave. The building features a unit mix that includes 14 singles, 2 junior one-bedrooms*, and 2 one-bedroom apartments.This offering presents an investor the opportunity to capture a 69% overall increase in rent with a pro forma CAP rate of 8.07% through renovations when the units turn. The property is being offered at a low price per unit of $141,667 and a low price per square foot of $253. The building is well-maintained and separately metered for gas and electricity.The Koreatown submarket remains one of the most desirable addresses for both living and working for residents who need to commute to both Downtown Los Angeles and Hollywood. With over 110,000 people living within one mile and an average home value of over $830,000 within a three-mile radius.
Listing description from the October 2020 sale, as reported to CRMLS.
Sale history
