538 S Oxford Avenue,Los Angeles, CA 90020
Los Angeles, CA 90020
Description
Located in one of Koreatown's most desirable pockets, 538 S Oxford Avenue presents a rare chance to acquire a high performing asset with substantial upside in one of Los Angeles's most dynamic rental markets. This 24-unit building sits just moments from the area's top dining, retail, and transportation amenities, making it a highly coveted address that consistently attracts strong tenant demand. Constructed in 1966, the property features an efficient and highly leasable unit mix of (3) Singles and (21) One-bedroom apartment homes, totaling approximately 17,280 SF of improvements. The building is fully parked, an increasingly hard-to-find advantage in Koreatown that provides added convenience for residents while enhancing long-term value for ownership. Priced at $4,950,000, the offering equates to an attractive $206,000 per unit and a price per square foot well below replacement cost, creating a compelling basis in a core LA location. The asset also delivers an impressive 5.08% cap rate on actual income, with a clear path to nearly 10% cap rate at market rents. This combination of low entry basis and extraordinary rent upside is seldom seen in today's market. Well-located, well-parked, and primed for repositioning, 538 S Oxford checks every box for value-add investors. With Koreatown's continued growth and very limited availability of similar assets, this is the kind of deal that does not come around often.
Details
| MLS # | 26640663 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1966 |
| Days On Site | 217 |
| Listing Provided By | Keller Williams Beverly Hills | Shaya Braverman |
Features
| SQ Feet | 17,280 |
|---|---|
| Story(s) | 2 |
| Units | 24 |
| Building(s) | 1 |
| Zoning | LAR4 |
| Acreage | 0.21 |
Interior
| Heating Yes / No | Yes |
|---|---|
| Cooling Yes / No | Yes |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90020 |
| Area | C17 Mid Wilshire |
| Listing VS Median (in 90020) | |
Price: $4,950,000 low | high Med: $3,750,000 sqft: 17,280 low | high Med: 10,444 $ / sqft: $286 low | high Med: $372 On site: 217 low | high Med: 148 | |
Market Activity 90020
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90020 |
| Area | C17 Mid Wilshire |
| Listing VS Median (in 90020) | |
Price: $4,950,000 low | high Med: $3,750,000 sqft: 17,280 low | high Med: 10,444 $ / sqft: $286 low | high Med: $372 On site: 217 low | high Med: 148 | |
