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$ 1,300,000
Est. payment | /mo
6,762 SqFt
$ 1,300,000
Est. payment | /mo
6,762 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 6,762 sqft
Price per Sqft $192
MLS Listing ID CL26838607
HOA Y/N No
Year Built 1910
Lot Size 5,508 Sqft
Acres 0.1264
Property Sub-Type Other
Property Description
We are pleased to present a twelve (12) unit apartment building located at 1247 W 8th St in Los Angeles, California. The subject property is located in a solid Westlake location, north of Olympic Blvd and west of Union Ave. Located in the Westlake neighborhood adjacent to Downtown Los Angeles, 1247 W 8th St features a solid unit mix of four studio units and eight one-bedroom units, with one unit delivered vacant and approximately 30% rental upside potential. The asset is separately metered for gas and electricity, features new electric panels, and operates as a strong cashflow investment at approximately 170 basis points above current debt. Residents benefit from immediate access to the 110 Freeway, Metro A and B Lines, major commercial corridors, and nearby amenities including MacArthur Park, LA Live, Crypto.com Arena, dining destinations, entertainment venues, grocery options, and nightlife throughout Downtown Los Angeles and surrounding neighborhoods. With its central Westlake location, solid unit mix, immediate transit and freeway access, one vacant unit, and solid rental upside potential, the property offers investors a compelling opportunity to capitalize on long-term multifamily demand near Downtown Los Angeles.
Location
State CA
County Los Angeles
Zoning LACW
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 5143011012
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Listed by Kian Maronde • Marcus & Millichap
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