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$4,950,000
Est. payment /mo
9,008 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 26640663
HOA Y/N No
Year Built 1966
Lot Size 9,008 Sqft
Property 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.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Fireplace No
Exterior
Total Parking Spaces 23
Building
Story 2
Others
Tax ID 5503020004
Special Listing Condition Standard
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Listed by Shaya Braverman Keller Williams Beverly Hills #01861842
NEARBY SCHOOL & BUSINESS
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