2562 W 11th St, Los Angeles, CA 90006

Property Description

2562 W. 11th St. is an 8 unit apartment building ideally located in Koreatown just blocks from the intersection of Vermont Ave and Olympic Blvd. Built in 1939, the property consists of (8) 1 bed / 1 bath units spread out over 6,270 net rentable square feet and sits on a large 10,005 square foot LAR4 zoned lot. Each unit offers a spacious layout of approximately 784 square feet, and the property features eight private garages, a rare amenity in one of the densest neighborhoods in Los Angeles. With approximately 39% upside in rents, 2562 W. 11th St. is a true value-add opportunity, while the large LAR4 lot and detached garages create potential for future ADU development, giving an investor multiple paths to grow income and long term value. Koreatown has established itself as one of the most vibrant rental markets in Los Angeles, with a nonstop dining, nightlife, and entertainment scene that draws renters from across the city. The Vermont and Olympic corridor just north of the property is set for a major transformation with Link Kora, a full-block mixed-use development by Grubb Properties planned to bring 228 new apartments and Target-anchored retail to the neighborhood. The property has a Walk Score of 87, with Metro Rapid service along Vermont Ave, the Metro B and D Lines at Wilshire/Vermont, and quick access to the 10 and 110 Freeways connecting tenants to Downtown LA, Hollywood, and the Westside. The combination of a central location, significant rental upside, and a large LAR4 lot makes this an opportunity to own a generational asset in one of LA's most dynamic neighborhoods.