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.
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DAYS ON MARKET
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67
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LAST UPDATED
|
2/27/2025
|
|
YEAR BUILT
|
1926
|
COMMUNITY
|
Mid-Wilshire
|
|
COUNTY
|
Los Angeles
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STATUS
|
Conditional
|
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PROPERTY TYPE(S)
|
Residential Income
|
|
|
| APPLIANCES |
Dryer, Washer |
| AREA |
Mid-Wilshire |
| GARAGE |
None |
| HEAT |
Wall Furnace |
| LOT |
5903 sq ft |
| PARKING |
None |
| STORIES |
2 |
| ZONING |
LAR4 |
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Listed with Marcus & Millichap
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/19/25 5:51 AM PDT 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
This IDX solution is (c) Diverse Solutions 2025.
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