201 S. Occidental Blvd., in the Koreatown neighborhood of Los Angeles, is a 24-unit multifamily building built in 1960. The property offers renters a high-demand mix of 20 one-bed/one-bath and 4 two-bed/two-bath units across 18,738 square feet of improvements on 14,923 square feet of land. The property is fully parked with 23 gated tuck-under spaces. Utilities are separately metered for electricity and gas. 201 S. Occidental Blvd. is an ideal investment opportunity for all renovation-oriented buyers. As the units turn, it will allow new ownership to immediately renovate, remodel and reposition the property to capture a higher-income tenant base and top-of-market rents. The property is on the border of Koreatown, Rampart Village and Silverlake, with the benefit of being close to all three. One street over on S. La Fayette Park Place, there are several large apartment buildings, institutionally-owned, that achieve higher market rents than our projections. This shows that tenants like this location due to its proximity to Koreatown, Hollywood, Silverlake, Echo Park, and Downtown Los Angeles. In Westlake, one of the oldest neighborhoods in Los Angeles, residents enjoy the neighborhood's green space at Lafayette Park and MacArthur Park and easy access to more recreational amenities just north in Griffith Park and nearby attractions including Dodger Stadium and Chinatown. Koreatown is booming with nightlife, eateries, shopping, and multiple metro locations. Quick access to the 101 gives easy access to all parts of the LA basin and Koreatown is ideal if you need to commute to Downtown LA, just three miles southeast.
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