1329 S New Hampshire Avenue, Los Angeles, CA 90006
Property
Sold October 2024
Listing Agent: Jake Glaser (DRE #02128816) · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 310-425-9838 · Bought with: Jake Glaser · Lyon Stahl Investment Real Estate, Inc. · MLS #24442169 · Source: CRMLS
About this property
Charming quadruplex located in the dynamic Pico-Union neighborhood of Los Angeles. This is a rare opportunity to acquire a well-priced value add investment property that has not been on the market in 58 years! Built in 1912, this Craftsman-style building exudes classic architectural charm and sits on a spacious 6,285 square foot lot, zoned LARD1.5. The property consists of four generously sized 1-bedroom/1-bath units, each averaging just under 1,000 square feet. With a remarkably low price per square foot of $189/SF, this offering represents an exceptional value in today's market. The property features all long-term tenants, presenting a significant opportunity for rental income growth with 90% upside on current rents. Additionally, the quadruplex benefits from a very low expense load, further enhancing its investment appeal. The building underwent earthquake retrofitting in 2009, complete with a 15-year warranty.1329 S New Hampshire Ave is offered at an attractive 5.06% cap rate and a 13.62 GRM, making it an excellent choice for investors seeking strong returns. Its location in the Pico-Union neighborhood provides convenient access to Downtown LA, Koreatown, and USC, offering a blend of urban vibrancy and residential comfort. With its unique architecture, substantial upside potential, and prime location, 1329 S New Hampshire Ave is a compelling addition to any real estate portfolio.
Listing description from the October 2024 sale, as reported to CRMLS.
Sale history