Listing provided courtesy of Aram Gaboudian of Keller Williams Downtown LA. Last updated 2024-11-24 09:14:51.000000. Listing information © 2024 CRMLS.
Asking Price: $3,198,000
343 Occidental, Los Angeles CA 90057
Community: C42 - Downtown L.A.
Status: Active
This property was built in 1949 and is priced at $3,198,000. Please see the additional details below.
18 unit low rise garden style apartment building for sale with tremendous upside of 53% to peak proforma in one of the few remaining pockets in Los Angeles that hasn't seen big growth...yet. A short drive off the 101 and the Silver Lake Blvd exit is 343 S Occidental Blvd. The location is Silver Lake a few blocks to the north and Koreatown a few blocks to the east. 10 of the units are one bed one bath, 8 are studios. Rents were last raised February 2024. Current rents are $18,936/mo ($227,236/yr). Highest 1 bed unit is $1700/mo. Highest studio is $1500/mo. February 2025 rents at 4% increase gets to a 4.8 cap & 13.5 GRM. Proforma rents indicate $29,000/mo or ($348,000/yr) at 8.3 cap & 9.2 GRM. All units are occupied and rents are current. Laundry is on site. There are 13 parking spaces with the potential to add more. Soft story retrofit completed in 2019.
