We are pleased to offer for sale a 12-unit apartment community located at 1247 West 8th Street. The subject property is situated west of the 110 Freeway and south of Wilshire Boulevard. Positioned on a 5,508-square-foot parcel, the property is comprised of four studios and eight one-bedroom units and is… Read More being offered at an attractive basis of 7.98 GRM and $120,833 per unit, with 24% remaining rental upside through unit renovations. The property is in close proximity to multiple venues for the 2028 Summer Olympics, including the LA Memorial Coliseum, Crypto.com Arena, and BMO Stadium, which bode well for the long-term prospects of the neighborhood.1247 West 8th Street offers investors a compelling opportunity to acquire an asset with a strong value-add component and to capitalize on the continued westward expansion and revitalization of the Downtown submarket. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. Read Less
Courtesy of Marcus & Millichap 310-909-5500
Listing Snapshot
Days Online
178
Last Updated
Property Type
Other
Beds
8
Square Ft.
6,762
Lot Size
0.13 Acres
Year Built
1910
MLS Number
25601441
30 Days Snapshot Of 90017
$720k
+56%
(avg) sold price
1
-50%
home sold
58
-61%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
6,762 sq ft, Built in 1910, Levels: Two
Disclosures
None
Garage
None
Lot
LotAcreage: 0.1264, LotSizeArea: 5,508
Parking
TotalParking: 0
Property
NumberOfUnits: 12, Zoning: LACW
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