311 S New Hampshire Ave
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311 S New Hampshire Ave
16 Unit Apartment Building $4,250,000 ($265,625/Unit) 5.50% Cap Rate Los Angeles, CA 90020
Investment Highlights
- Built in 1989 | AB 1482
- 22 Parking Spaces
- One & Two Bedroom Units
- Clean and Well Operated Property
Executive Summary
311 South New Hampshire is an attractive 16-unit apartment community in Koreatown. 311 South New Hampshire was built in 1989 and has the AB 1482 Designation, allowing annual rent increases of 5%, plus the CPI, in 2024. The property consists of eight (8) Two Bedroom / 2 Bathroom units and eight (8) One Bedroom / One Bathroom units – 16 spacious units. Current ownership has proven a concept for future ownership by executing tasteful remodels of five units (Units 201, 202, 204, 205, and 208). Unit upgrades include new modern flooring, updated bathrooms/kitchens with new appliances and countertops, and sleek fixtures throughout. 311 South New Hampshire Avenue boasts ample onsite parking, with 22 spaces in total. The property is not on the LA City mandatory seismic retrofit list. Located in Koreatown, 311 S New Hampshire Avenue is a short distance from the City's primary employers in Downtown Los Angeles and Hollywood and has world-class access to public transportation. 311 South New Hampshire Avenue has a Walk Score of 95 out of 100. This location is a Walker's Paradise, and daily errands do not require a car.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$385,476
|
$32.69
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,709
|
$0.65
|
| Effective Gross Income |
$377,767
|
$32.04
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$145,099
|
$12.30
|
| Net Operating Income |
$232,668
|
$19.73
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $385,476 |
| Annual Per SF | $32.69 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $7,709 |
| Annual Per SF | $0.65 |
| Effective Gross Income | |
|---|---|
| Annual | $377,767 |
| Annual Per SF | $32.04 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $145,099 |
| Annual Per SF | $12.30 |
| Net Operating Income | |
|---|---|
| Annual | $232,668 |
| Annual Per SF | $19.73 |
Property Facts
| Price | $4,250,000 | Apartment Style | Low Rise |
| Price Per Unit | $265,625 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.50% | Building Size | 11,792 SF |
| Gross Rent Multiplier | 11 | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1989 |
| Property Subtype | Apartment | Parking Ratio | 1.87/1,000 SF |
| Price | $4,250,000 |
| Price Per Unit | $265,625 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 11 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 11,792 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1989 |
| Parking Ratio | 1.87/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 650 - 850 |
| 2+2 | 8 | - | 905 - 1,095 |
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Walk Score ®
Walker's Paradise (95)
Transit Score ®
Excellent Transit (77)
PROPERTY TAXES
| Parcel Number | 5502-007-014 | Improvements Assessment | $1,379,570 (2024) |
| Land Assessment | $2,440,778 (2024) | Total Assessment | $3,820,348 (2024) |
PROPERTY TAXES
Parcel Number
5502-007-014
Land Assessment
$2,440,778 (2024)
Improvements Assessment
$1,379,570 (2024)
Total Assessment
$3,820,348 (2024)
zoning
| Zoning Code | C2, Los Angeles |
| C2, Los Angeles |
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311 S New Hampshire Ave
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