Welcome to 248 S Hobart Blvd, an exceptional 8-unit apartment building located in the heart of Koreatown, one of Los Angeles’ most vibrant and high-demand rental markets. Built in 1928, this charming property offers a vintage aesthetic while benefiting from recent upgrades, including a new roof (2020), exterior paint and… Read More patching (2020), and updated electrical systems (2022–2023). The building consists of eight spacious 2-bedroom, 1.25-bath units, each approximately 920 sq. ft., spread across two floors. All units are separately metered, providing operational efficiency. Current rents are significantly below market, offering substantial upside potential as units turn over. Pro forma rents project income growth to over $17,600 per month, supporting a pro forma cap rate of 6.64%. Situated on a 10,386 sq. ft. lot with R3-1 zoning, the property totals 7,359 sq. ft. of building space. Residents enjoy easy access to local amenities including renowned restaurants, shopping, markets, schools, and public transit—just blocks from the Metro Red and Purple lines. The property’s walkable location, one block off Western Avenue, makes it highly desirable for tenants seeking convenience and connectivity. Ideal opportunity for investors seeking stable cash flow, low vacancy, and strong long-term upside in one of Los Angeles’ most dynamic rental submarkets. Read Less
Property listed by Real Broker, Jacob Choi 949-228-9202
Listing Snapshot
Days Online
0
Last Updated
Property Type
Multi Family
Square Ft.
7,359
Lot Size
0.23 Acres
Year Built
1928
MLS Number
PW25219562
30 Days Snapshot Of 90004
$1.84M
-3%
(avg) sold price
7
-22%
homes sold
77
-16%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1928, Building area total: 7,359, 2 buildings
Cooling
WallWindowUnits
Expenses
Electric expense: $894, Insurance expense: $11,588, Maintenance expense: $12,936, Operating expense: $80,988, Trash expense: $6,884, Water sewer expense: $5,301, Other expense: $1,849
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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